Over 300,000 (333,653) people switched electricity supplier in July, which is a record high for July and a 22 per cent increase from July 2015. This brings the total number of electricity switches to over two and a half million (2,658,437) so far in 2016.
July’s data shows 76,174 customers switched to small and mid-tier suppliers in July, which is 23 per cent of all switches.
Lawrence Slade, chief executive of Energy UK said: “It is fantastic to see customers shopping around over the summer months when energy bills are the last thing on the minds of most people. More than 40 suppliers are offering some great deals especially for those who haven’t switched for several years and could potentially save hundreds of pounds. It is easy, safe and quick to switch supplier and the new Energy Switch Guarantee is designed to increase customer confidence in the process.”
EDF Energy said:”The high number of switches so far in 2016 is an indication that competition in the energy market remains strong, but we recognise that the re is more to do, particularly for those consumers who don’t feel able or confident enough to engage with the market. That’s why we’re calling for the implementation of the CMA’s remedies without delay, so that the benefits of these changes can reach those consumers who need them most.”
Related content:
CMA holds the lines on remedies: CfD transparency; new industry change regime; new roles for Ofgem
How can we ensure domestic electricity pricing is smart and fair in future?
Ofgem calls on suppliers to ‘move early’ to increase competition
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