An
ever increasing price rise scenario made its impact in the year 2016, which proved
quite heavy for all energy bill payers. Energy suppliers blamed it on the
increasing wholesale energy prices. However, customers made sure that things do
not become worse as they made a record number of switches. Statistics suggest
4.8 million customers changed to better energy suppliers, a 26% rise in the
number of switches compared to 2015.
It
was observed in the last month of the year that the number of switches reached
a big high with 449,921 people taking a plunge for a better supplier. This was
a 33% increase when compared to December 2015. This is the call of the moment
as more and more people want to save on their energy bills to improve their
household spending.
Many
customers switched to a smaller energy supplier and there is a consistent
growth in the number of switches since THE past two years. One of the reasons
behind this is the increasing energy prices as well as suggestions from
experts, consumer groups and legal authorities that energy wastage would not be
affordable for British citizens and saving their energy bills is the best way
to cut down the overall household bill.
This
can also be attributed to the constant effort by energy suppliers to gain
consumer attention by offering cheaper tariffs and discount deals. There are
several energy providers that offer lower energy prices and consumers need to compare energy tariffs and choose the
one that suits them the most. Many a time, switching from the standard energy
tariff to a cheaper deal from the same supplier also saves a lot of money.
The
record number of switches is good news as it leads to healthier competition in
the energy market. More and more suppliers offer lower tariffs to attract
customers and thus, offer tariffs at lower prices. This way, the consumers get
a much cheaper deal if they know how to shop around and find the best deal for
themselves.
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