That’s according to Energy UK’s latest electricity switching figures, which reveal this is up 17% compared with January last year, when 382,665 people made the switch

The new compensation requirement will come into effect on 1st May 2020

Ofgem is consulting on issuing them with final orders

Energy UK suggests total figures for the year are already equal with 2018’s record of 5.8 million switches

The figure is up 9.2% compared to the same period last year

New analysis suggests this could collectively cost UK households more than £57 million a year compared to their current energy costs

That’s a 10% increase compared to the same time in 2018

More than four million consumers have switched so far in 2019, up 11% on the same time last year

Ofgem says 30% of the 90,000 people, who had been on a default standard variable tariff for three years or more, switched to a different supplier

Around 34% of the switches were from larger to small and mid-tier suppliers in July