4m Brits switch to cheaper energy bills

Wednesday, 17 January 2007 12:00

Four million Britons moved to a cheaper gas or electricity supplier last year, as fuel prices soared.

Energy regulator Ofgem revealed today some 750,000 more people moved supplier in the first ten months of 2006 than in the same period in the year before.

And those moving providers saved on average £150 each on their bills.

"Energy customers have given expensive suppliers the boot with over four million moving to a cheaper supplier in the first ten months of 2006," said Ofgem chief executive Alistair Buchanan.

Ofgem figures show 3,964,905 people switched electricity supplier and 3,253,573 moved gas supplier between January and October 2006.

And the moves have seen British Gas' market share fall below 50 per cent of households for the first time.

"This is clear evidence that Britain has the most competitive energy market in the world and that customers are taking full advantage of this," Mr Buchanan said.

"While British Gas has already indicated that they will be cutting prices this year, Ofgem will be watching all energy suppliers to make sure they compete as wholesale prices fall as hard as they did when prices rose.

"However, there is no need to wait for prices to fall - customers who have never switched can cut their bills now by around £150 by getting a better deal for their energy."

Ofgem adds Britons who have already switched or are coming to the end of a fixed-rate deal should check they are still receiving the cheapest prices.

The energy regulator adds customers can also cut their bills by £35 to £40 by paying for their energy by direct debit, with further reductions possible by becoming more energy efficient.

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