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Almost one million UK consumers switched energy suppliers in March this year - the highest number ever for a single month. In response to huge price increases from the nation's top six energy suppliers, UK customers have decided it's time to look for a better deal.
In a report published today, energy regulator Ofgem showed a large increase in the number of people switching energy suppliers. Alistair Buchanan, Chief executive of Ofgem urged UK consumers to take advantage of the strong competitive energy market to shop around and get the best possible deals on gas and electricity?. He went on to say that across Britain there are unclaimed savings of around £1 billion.
200,000 more consumers switched energy suppliers in March 2006 over the same period last year according to Ofgem's Retail Market Report. High Winter fuel bills may have prompted many people who have never switched before into action. They were right to do so as there are still wide differences in the prices charged by different suppliers” says Alistair Buchannan.
Ofgem's report shows that competition is still vigorous between energy suppliers despite rising prices. There are many different tariffs which means that there should be savings available for almost everyone. Opting for a dual-fuel tariff and paying by direct debit will usually net the greatest savings.
Energy prices across the UK have increased by over 40% in the last two years and consumers are taking notice. David Kerr, managing director of Unravelit said Ofgem's report is consistent with what we have seen this year. When a number of major suppliers increased their prices we saw a large increase in the number of people switching gas and electricity. Despite rising prices, it is still possible to get a good deal on your energy switching suppliers often saves over £170 per year.
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