A record number of Brits switched energy supplier in February

Posted: 12 March 2018 5:37 am

A record 668,000 customers switched energy supplier last month and 5.5 million in 2017.

A record number of Brits switched energy supplier in February, Energy UK has announced.

Official figures show that 668,000 customers switched in February, the highest number ever recorded in the United Kingdom.

The trade association also confirmed a record 5.5 million customers switched in 2017, an increase from 4.8 million in 2016.

There are currently over 60 energy suppliers operating in the UK, but the big six control more than 80% of the market. Centrica’s British Gas, E.ON, SSE, EDF Energy, Innogy’s Npower and Iberdrola’s Scottish Power still hold most of the power across the British Isles.

People in the UK are notoriously stubborn when it comes to switching. In 2016, about 1 in 5 people switched their gas or electricity supplier. Most customers see it as a pain or too complicated but it could save consumers hundreds of pounds each year.

Check out our complete guide to switching energy supplier to help you along the way.

We also revealed in September how energy customers will soon be able to switch providers without having to change their meters.

The Competition and Markets Authority (CMA) introduced measures to be applied to 700,000 restricted meter customers, including 400,000 in Scotland.

The CMA approved the change following an extensive investigation into the UK’s energy sector. It found that “around two thirds of customers using restricted meters, such as Economy 10 and THTC, could save an average of £154 per year by switching energy tariff.”

Until now, users have been hampered from changing providers due to the hassle and cost of switching to a new meter. The CMA’s new guidelines mean that restricted meter customers can now easily access different deals and rates from a selection of providers. The measure could be rolled out nationwide to all customers if the latest move proves successful.

Compare the UK’s best energy deals, and find out more about The Energy Deal with our useful guide.

Latest news headlines

Picture: Shutterstock

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site