Tariff switching hits new heights in 2017

Switching figures for this year have hit nearly five million, topping 2016’s record heights. That’s according to the latest figures from Energy UK, which suggest this has been partially driven […]

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By Jonny Bairstow

Switching figures for this year have hit nearly five million, topping 2016’s record heights.

That’s according to the latest figures from Energy UK, which suggest this has been partially driven by new companies joining the Energy Switch Guarantee (ESG), which now covers more than 90% of the market.

The industry-led initiative sees companies sign up to a series of commitments with the aim of ensuring customer switches are simple, quick and safe.

More than 475,000 customers took action to save money by switching provider during November, up 14% on the same time last year.

With now more than 55 suppliers to choose from now, nearly a quarter of the monthly switches were to a small or mid-tier supplier.

Ofgem numbers estimate that, in addition to those switching supplier, double that number make a change with their current provider. This means that in excess of 12 million households will have actively chosen the best deal for themselves by the end of the year

Lawrence Slade, Chief Executive of Energy UK, said: “Over five million customers have now taken action to lower their bills, topping last year’s figure and showing how more and more people are realising how quick and easy it is to save money.”