600,000 customers switched suppliers in October as Govt admits price of gas and electricity is too high

More than 600,000 customers took steps to save on their energy bills this winter by switching electricity provider in October, according to the latest figures from Energy UK.

Switching continues to surge with October’s figure showing an increase of 11 per cent on last month, taking the total number of customers changing supplier so far this year to over four and a half million.

It is also only the second time the monthly figure has topped 600,000.

A third (32 per cent) of those changing providers in October moved to small and mid-tier suppliers and away from Big Six suppliers.

Research also shows that 90% of energy switchers are happy with the process of changing suppliers and with the reassurance provided by the Energy Switch Guarantee which ensures switches are simple, speedy and safe.

Lawrence Slade, Chief Executive Energy UK – the trade association which represents energy providers – said: “Switching continues to surge with over 600,000 customers changing supplier to find a better deal last month.

“Many more will have made savings by checking they are on the best deal with their current supplier. It only takes a few minutes to do this and with over 55 suppliers across the market, there’s never been more competition or choice.”

Meanwhile, Greg Clark, MP, British Business and Energy Secretary, said: “Energy bills are too high for consumers. We have been clear that we are committed to bringing down costs, both for households and for businesses.

“I commissioned Cost of Energy review to start a debate about the future of our energy markets. Now I am opening up that debate, asking everyone with an interest to give us their views on Professor Helm’s ideas for bringing down the cost of energy for consumers.”

Any stakeholders who would like to comment on the findings should email their submissions to costofenergy@beis.gov.uk by 5 January 2018.

8 Nov 2017

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