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Summer switching on the rise

Summer switching on the rise

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Electricity switches have been on the rise this summer, according to the latest figures from Energy UK. More than 520,000 electricity customers switched their supplier last month, up 10% compared to July 2018.

So far in 2019, more than 3.5 million people in the UK have switched their electricity supplier. In 2018, a record 5.8 million - or one in five - switched supplier. Another record was set in April this year when more than 660,000 people switched in a month.

According to stats from the Energy Switch Guarantee, 83% of people who have switched in the past four years were happy with the switching process.

End of fixed deals drives switches

Rik Smith, energy expert at uSwitch, said the switches were a knock-on effect from last year’s price rises.

“This is a significant increase in switching levels, driven by the huge number of fixed deals which came to an end in July this year after energy suppliers announced a string of price rises during the summer of 2018.

“As 64 fixed deals expired, households were determined to avoid a £96 million price increase by being rolled onto poor value standard deals. Instead people shopped around in their droves, proving once again that energy customers cannot be taken for granted by their suppliers.”

Don’t rely on the price cap

The latest figures come as Ofgem cut the level of its price cap for customers on standard variable and default energy tariffs.

Rik Smith said: “If you received a message from your supplier saying your plan was ending and then heard that the price cap level was going down, don’t be caught out. You can find tariffs over £300 a year cheaper than the maximum allowed under the energy price cap by spending just a few minutes shopping around.”

Why pay more for the same energy?

Switch to a better deal today!

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