Consumers switching energy supplier are making power companies compete more fiercely on price, according to the energy regulator.
Ofgem says Britain’s energy giants are also introducing innovative tariffs and products, as well as improving service as they battle for business.
Ofgem Chief Executive Alistair Buchanan said: ‘Ofgem’s research shows that customers are punishing firms that do not deliver on price and service – switching rates remain strong.
‘Suppliers are responding by cutting prices, improving service and developing new energy products to attract and retain customers.’
However, as Which? revealed last month, you could be paying more for your energy depending on what area of the country you live in.
Switch with Which?
As our tables below show, Britain’s six main energy providers charge different prices across the UK’s 14 energy regions.
That’s because energy companies that were the dominant supplier in a region before deregulation – or those that already have a large market share – usually charge more for their standard tariffs than companies trying to increase their customer base.
If you’ve never switched supplier you’re getting a poorer deal than those who have.
On average in 2006, households using Switch with Which? saved £245 year, with first-time switchers most likely to make big savings – up to £500 some cases.
|The standard rate, dual fuel charge for a medium user paying by direct debit|