Energy switching up by 15% - Gas and electricity - News - Moneyfacts

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Energy switching up by 15%

Energy switching up by 15%

Category: Gas and electricity

Updated: 22/02/2016
First Published: 22/02/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The benefits of switching energy supplier are often talked about these days, what with sky-high winter energy bills and price cuts that only apply to standard (and more expensive) variable rate tariffs. Happily, it seems that the message is starting to get through, with energy regulator Ofgem reporting a 15% boost in the number of households switching provider last year.

The figures show that 6.1 million domestic energy supply accounts were switched in 2015, an increase of 15% compared with 2014, and the highest number of switches since 2011. Not only that, but it seems that many are taking the opportunity to leave the Big Six and head to smaller providers instead, with over 40% of switchers heading to independent suppliers.

It looks as though Ofgem's Be an Energy Shopper campaign is having the desired effect, with the campaign encouraging consumers to be proactive and shop around to get a better deal. In doing so, many could save around £200 by switching, says the regulator, and those who haven't switched in years (or have never done so) could save considerably more.

Rachel Fletcher, Ofgem senior partner, commented: "It's encouraging to see switching levels at their highest level for four years. With more than 30 suppliers active in the energy market and hundreds of pounds of savings to be made, it's a great opportunity to shop around.

"Whether customer service, price or both is what's most important to you, remember you always have a choice. If your energy company isn't up to scratch, vote with your feet and walk away."

What next?

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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