Fears of the rising level of the new price cap and the cost of living crisis have resulted in more Britons changing their energy supplier last month.
According to data from ElectraLink, there were 123,000 switches completed in July – almost 28% more than in June.
The report suggests July’s figure is this year’s second highest monthly number of changes of supplier (CoS) completed after April 2022 which saw 128,000 CoS completed.
The year’s current total for switches completed now stands at 736,000 compared to 3.4 million for the same period in 2021.
Ofgem will announce the level of the new price cap tomorrow, with experts predicting that this will be around £3,582 a year for a typical household.
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