Tuesday 6 September 2016

Energy supplier switches up by 30%

Energy supplier switches up by 30%

The number of consumers switching energy suppliers in the first half of 2016 has increased by 30% compared to the previous year.

There were 3.8 million switches, up from roughly 2.8 million, according to Ofgem.

In the first half of this year, around 1.6 million consumers switched gas firms and 2.2 million switched electricity companies.

With more than 40 suppliers in the market, there is more choice than ever before however, around two thirds of domestic customers remain on expensive variable tariffs rather than fixed tariffs, which can often be cheaper, Ofgem states.

The regulator aims to introduce reforms to protect consumers using prepayment meters and increase competition.

Rachel Fletcher, Senior Partner at Ofgem, said: "Great deals are there for the taking. There are very competitive offers and many more suppliers to choose from and that’s why more consumers are switching."

Written by

Bruna Pinhoni

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