Nearly half a million (444,653) customers switched their supplier in August 2017, a 30% increase compared to 2016. This takes the total number of customers switching in 2017 to nearly three and a half million – surpassing the total number who switched in 2014 (3.4million).
Customers are benefiting from having greater choice of energy supplier, with over 50 energy companies in the market. In August 2017 nearly a quarter of all switches (111,932 customers), moved to small and mid-tier suppliers from the larger suppliers.
This follows new data from the regulator Ofgem, revealing that the numbers of customers on standard variable tariffs has fallen by nearly one million in the last six months, following increased activity from energy companies to engage with their customers.
Lawrence Slade, chief executive of Energy UK said: “The UK energy industry is changing, and at a rapid pace. To see switching increase by nearly a third – an increase of more than 100,000 customers on the same time last year, shows that progress is being made.
“This is on top of many more customers moving to better deals with their own supplier, a sign of the continued efforts of suppliers to engage with their customers to ensure a fair deal for all.
“There are a record number of companies to choose from, and deals which could save you hundreds of pounds so our advice to consumers is check your deal today – you could save in no time at all.”