Commenting on the latest figures from Energy UK which show that 2019 was another record year for electricity switching, Head of Regulation at uSwitch.com, Richard Neudegg, said:
“Switching supplier is clearly becoming part of everyday life for more and more households. uSwitch data shows that in the last 12 months, households saved an estimated £1.7 billion on their energy bills by switching their energy deal. We’ve also tracked an increase in energy customer satisfaction, with people feeling more positive once they have made their own choice about the price they pay.
“Major changes to the UK energy market in 2019 saw eight more small suppliers going out of business, two of the Big Six being taken over by rival firms while smaller companies continued to take a bigger slice of the market, and Ofgem introducing the Government’s energy price cap.
“The eye-watering £117 average increase in the level of the price cap in April provided a huge incentive for households to move off poor value standard tariffs, reminding customers they shouldn’t rely on market regulation to get a good price.”