A record number of British customers switched supplier in 2018 – helping to ensure that they are paying the lowest possible price.
Key facts: A record 5.9 million customers changed supplier in 2018, up from 5.5 million in 2017, after the Government made it simpler and easier for consumers to shop around for the best deals by introducing the Switching Principles in 2015.
· On average, nearly half a million customers switched supplier every month in 2018, continuing the trend of year-on-year increases in energy switching and high levels of engagement, particularly when compared to other sectors.
· One in five customers switched last year, helping to guarantee they are on the best deal possible for their household – Citizen’s Advice has said households could save over £150 each year by switching supplier.
· Data shows a net 1.7 million customers, or 30 per cent of all switches, moved to a small or mid-tier supplier during 2018 rather than one of the big six energy suppliers.
Why this matters: We are delivering on our commitment to make sure markets like the energy market and housing market work for ordinary people. We have changed the law to put a cap on energy prices, protecting 11 million people from higher bills by the end of 2018 and from this month, the price cap will remove around £1 billion of overcharging from consumers’ bills.
