Energy switching up 30% as Customers fight back against rip-off deals
3.8million switch during the first six months of 2016.
More than 3.8million people are fighting back against rip-off energy bills after switching energy suppliers during the first six months of the year.
According to regulator Ofgem, around 1.6 million domestic customers changed gas suppliers and 2.2 million switched electricity suppliers in this period. The figure is up by 1 million from the same point last year, and switching has broken through 3 million for the second consecutive six month period.
"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," Commented Ofgem spokesperson, Rachel Fletcher
Unfortunately, 66% of households are still overpaying on their gas and electricity by sticking with the same supplier and remaining on expensive standard tariffs. A recent energyhelpline study estimated that these customers could be collectively overpaying by as much as £5.4bn a year.
Mark Todd, co-founder of switching site energyhelpline.com has said,
“Switching energy suppliers is taking off with a 30% rise announced today, showing consumers are getting savvier. 3.8 million switches have taken place as households regain control of their finances and seek out fairer deals. This is around a 1 million increase to the same period last year.
“However, with 66% of consumers still on expensive standard variable tariffs, there is a long way to go. Energy suppliers continue to benefit from the blind loyalty of consumers. Customers who don’t switch are effectively giving their supplier money unnecessarily. Households must replace their passive approach with a more proactive one, holding suppliers to account for their service.
“When all you have to lose is an overpriced energy bill, it makes sense to switch and save. With over 40 suppliers now on the market there’s more choice than ever and the time it takes to switch has been cut. You don’t need a computer - customers can compare and switch over the phone as well as online. Online price comparison and switching tends to take customers just ten minutes, switching over the phone a little more but then someone else will do all the forms for you. All you need is a recent bill to hand.”