Record amount of energy customers switch supplier
A record number of UK energy customers switched to a new supplier last month amid seemingly endless price hikes across the industry.
Average bills soared by £117 thanks to Ofgem raising the price cap yet again.
Many customers have just hit breaking point - these energy firms really are scumbags.
They entice you in on a nice low offer and then, when they've got you, they increase the price astronomically.
Go to A Spokesman Said now and see if you could save money on your energy tariff.
It'd be like going to the cinema, paying for your ticket then, half way through the film, somebody coming up and informing you that the cost of your ticket is now 10% higher and you have to pay the difference immediately.
You'd tell them where to go, wouldn't you?
Well, last month, 660,000 energy customers did just that - that's up 34% on April 2018 and the highest number ever recorded, according to data from Energy UK, a trade body.
The total number of electricity switches so far in 2019 now sits at over two million – up 18 per cent on this point last year. Many of the switches will undoubtedly be in response to the energy price cap increase that came into effect in April.
The government introduced the energy price cap last year in a bid to encourage those on fixed tariffs to switch supplier and put a stop to the loyalty penalty – customers who get penalised for staying with the same provider.
Ofgem, the energy regulator, announced in April that customers on standard variable tariffs will see the price cap increase by £117, or 10.3%, to £1,254 per year.
But this was just a green light for firms to ramp up their prices.
It's a bit like the university tuition fees scandal - once they're allowed to charge £11,000-a-year, they all do it.
This has led to a number of customers moving to smaller suppliers as data from Energy UK shows that 47% of all switches were from larger to small and mid-tier suppliers whilst 22% were also between small and mid-tier suppliers.
It was revealed last week that British Gas had lost 234,000 gas and electricity customer accounts whilst Scottish Power also lost about 50,000 accounts over the period.
Npower also lost 103,000 UK customers in the first three months of the year.
Lawrence Slade, Energy UK's chief executive, said: 'It is very positive to see that record numbers of customers continue to move to a new supplier in search of a better deal, and we must remember Ofgem's figures also show many more each month move to a better deal with their current supplier.
'So, I would encourage everyone to get in touch with their supplier, or have a look online, to see if there is a better deal for them, whether that is on price or the type of tariff you are looking for.
'And, at a time when we are facing a climate challenge on a global scale, it is important for all of us to look at our energy use and ensure our homes are energy efficient. This is the best way to keep your energy bill down while also reducing your carbon footprint so you can help save money and the planet.'
Go to A Spokesman Said now and see if you could save money.