Record numbers switch energy provider
More than 660,000 customers moved supplier in April, according to trade association Energy UK’s latest electricity switching figures. This represents a 34% rise year-on-year – and the highest increase on record.
This brings the total number of electricity switches to over two million so far in 2019, up 18% compared to the same period last year.
During April, large suppliers lost ground to small and mid-tier energy companies, with 47% of switches away from the larger players. Meanwhile, 21% were between large suppliers.
A total of 38% of all switches were to small and mid-tier suppliers in April.
What’s more, eight out of ten consumers were happy with the switching process, according to research produced by Energy Switch Guarantee.
Time to shop around?
Lawrence Slade, Energy UK’s chief executive, said: “It is very positive to see that record numbers of customers continue to move to a new supplier in search of a better deal, and we must remember Ofgem’s figures also show many more each month move to a better deal with their current supplier.
“So, I would encourage everyone to get in touch with their supplier, or have a look online, to see if there is a better deal for them, whether that is on price or the type of tariff you are looking for.”
Peter Earl, head of energy at comparison site, comparethemarket, said the April figures were a sign that people are no longer prepared to stand for hefty increases to their annual energy bill.
“Energy providers have long relied on customer inertia so it is encouraging that, despite the energy price cap failing to protect many customers from rising costs, not all households have rested on their laurels.
“More often than not it pays to shop around for a more competitively priced fixed rate tariff. For the many millions of households still languishing on standard variable and default tariffs, now is certainly the time to take a look around to find a better deal,” he explained.
For more, see our guide to switching energy provider