500,000 consumers switch gas and electricity providers this year so far as Big Six hike prices again

The latest figures from Energy UK show that just under half a million customers (498,197) switched electricity supplier last month, a four percent increase on March.

This brings the total number of customers who have switched supplier so far in 2018 to just under 1.8 million, keeping pace with last year, when a record 5.5 million electricity customers – one in six – changed provider.

As switching increases year on year, so too do the gains by small and mid-tier suppliers with a quarter (23 percent) of customers moving from larger suppliers to these providers.

Meanwhile Centrica – which owns British and Scottish Gas alone lost more than 20% of this figure – a total of 110,000 energy supply accounts in the first four months of the year.

Last year, the company lost 1.3 million energy accounts.

In April, Scottish / British Gas announced a 5.5% increase in both gas and electricity bills, which comes into effect at the end of this month.

Other big energy firms have also announced price increases this year, including Npower, EDF and Scottish Power.

Lawrence Slade, chief executive of Energy UK, commented: “Confidence in switching remains high with nine in 10 customers happy with the process according to the Energy Switch Guarantee (ESG), a voluntary industry initiative to provide additional consumer confidence in switching.”

17 May 2018

 

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