Energy prices: February sees 55 per cent uplift in households switching electricity supplier

 
William Turvill
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Some 413,762 people switched electricity supplier last month (Source: Getty)

There was a 55 per cent increase in households switching electricity supplier last month, according to new figures.

Energy supplier trade body Energy UK said 413,762 homes did so in February - up from 266,096 in January. It was also up by 30 per cent on February 2015.

Energy UK said the latest electricity-switching data shows a net gain to small and mid-tier suppliers of 115,773 - accounting for around 30 per cent of all February switches.

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February marked the third month in less than a year that this figure has exceeded 400,000.

Lawrence Slade, chief executive of Energy UK, said: “Switching seems to be a buzz word at the moment - it’s fantastic seeing such positive numbers every month. Customers clearly want to make the most of the really good deals out there in the market.

“The industry continues to work towards making it easier and quicker for customers to switch, which is reflected in yet another high number of switches. ”

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Last week research by consumer interest company Which? found the energy market was still failing to provide consumers with the best possible prices.

Customers of the Big Six energy companies – British Gas, EDF Energy, npower, E.on, Scottish Power and SSE – could save up to £400 a year if they switched to the cheapest fuel deal on the market, the study found.

Last month, British Gas and EDF Energy announced price cuts of 5.1 per cent and five per cent respectively, following reductions by Npower, E.ON, SSE and Scottish Power.

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