EOn customers leave in their droves after relentless price hikes
Big energy firms are finally paying the price for relentlessly hiking their prices as customers decide to vote with their feet and switch supplier.
EOn, one of the Big Six suppliers, is now losing customers at 'an alarming rate' after it announced it would be surging prices by around 10%, or £117.
EOn, EDF Energy, nPower, British Gas and Scottish Power all announced they'd be hiking tariffs after Ofgem decided to raise the price cap.
The fact is that customers have seen relentless tariff increases for a number of years, and many elderly people are forced to make the choice between being cold during winter or having enough money to pay their bills - a tragic state of affairs.
A new report has shown, of customers who switched energy provider last month, 21.65% moved away from Eon.
Only 7.07% moved to Eon - which serves them right.
Separate figures from Ofgem's electricity supply data also shows that the supplier has steadily lost a high percentage of its market share in the last 15 years.
In 2004, the company had a market share of 21 per cent. By the end of 2018, this had fallen eight percentage points to 13 per cent.
In comparison, British Gas - the biggest company by market share - has seen a smaller slip of electricity customers, from 24 per cent to 19 per cent.
Don't be afraid to go to one of the smaller energy suppliers.
Igloo Energy and Bulb, for example, have actually reduced their tariffs.
You usually get better customer service at a smaller firm as well because they have fewer customers to begin with, so you don't get farmed out to some backstreet call centre in India where you spend 45 minutes on hold waiting to speak to somebody called 'Stephen'.
However, some smaller energy firms have gone bust recently- that's the price to pay unfortunately: Do you go for the long term security of somewhere like British Gas, but accept that you're going to pay a lot of money for your tariff? Or do you run the risk of your smaller, cheaper energy firm going bump?
The companies who went pop in the last year are Extra Energy, Spark Energy, Future Energy, National Gas and Power, Iresa Energy, Gen4U, Usio Energy, One Select, Our Power, Economy Energy and Brilliant Energy.
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