One million families switch energy supplier in just two months after fury over the Big Six price hikes
The number of households switching energy supplier more than doubled to one million in the last two months of 2013 amid public fury over price rises.
A quarter of the households that switched opted for smaller firms over the heavily criticised Big Six.
The wave of switching came after leading suppliers announced price rises, which led to a political storm over the cost of electricity and gas.
Public fury: Households have been hit by rising energy billls
The switching surge in November and December compares with a total of 3.5million customers who switched in the whole of 2013. Energy UK, the energy industry’s association, estimates that in 2012 2.5million households switched.
Some 230,000 of recent switchers went to small firms, which are often free of green levies meaning they can undercut bigger rivals.
The figures will come as a boost to the Government, which is urging customers to shop around for an energy provider in the face of rising bills.
It has also criticised the Big Six – British Gas, Scottish Power, SSE, EDF Energy, npower and Eon – for being too powerful and charging too much. It pledged to review the energy market to ensure competition is working.
Angela Knight, head of Energy UK, said: ‘Increased switching is a welcome sign that the industry is becoming more competitive, clearer and working for consumers.
‘Competition is alive and well with people choosing new entrants and smaller suppliers rather than sticking with established firms.’
The debate on the energy market was started by Labour leader Ed Miliband, who pledged to freeze energy bills for 20 months if elected in 2015. The pledge led the Chancellor to promise to slash energy bills by £50 a year, partly by cutting ‘the green crap’, as David Cameron was alleged to have described eco-taxes.
Most watched Money videos
- Range Rover Electric undergoes last extreme-weather tests
- Boreham Motorworks unveils the limited-edition Mk1 Ford Escort
- Rare 1992 Ford Escort RS Cosworth sets new world record auction price
- Amazon's latest $49,000 double-story TINY home comes with glass sunroom
- Ford presents new Puma Gen E: Best-selling now goes electric
- Toyota relaunches Urban Cruiser as an electric tech-rich crossover
- How to buy the best UK shares at a cheaper price
- Jaguar targets new customers by ditching logo and going electric
- Explained: Why motorists are banned from driving through central Paris
- Jaguar's EV concept revealed: Type 00 comes in two colours
- Tesla UK unveils look of sleek CyberCab in London's Westfield
- Woman becomes youngest Omaze winner after winning £3million mansion
- Premium Bonds saver scoops £1million prize on their first...
- Inheritance tax raid is disaster for pensions: Attack...
- House prices went up £12,000 in 2024 - and are tipped to...
- What are the big risks for investors in 2025? Chief...
- Pound drops as winter chill hits manufacturing after...
- Wildwood restaurant owner Tasty notes 'disappointing'...
- Reeves' inheritance tax raid puts millions at risk of...
- Pipeline to the Royal Mail: Czech Sphinx's Russian gas...
- MARKET REPORT: Vodafone picks up as it sells Italian arm...
- Tesla shares fall 6.6% after sales slump for first time...
- Barbour pays founding family £30m in dividends after...
- Coventry takes Co-op Bank for £780m returning it to...
- High Street suffers as shopper numbers fall after 'drab'...
- German industry suffers a 'lost year' - helping to drag...
- Wheels come off Brompton sales as boss blames 'really sad...
- Homeowners should brace for higher borrowing rates to...
- January sales bargain hunters are warned about rogue...
- Stormy times ahead for investors with UK now seen as an...