The latest energy switching statistics show that 564,8141 customers switched in August 2019 representing a 7.3% increase compared to July 2019 and a swing of 14.1% against last year's number of 494,839.
Of the 25.7m domestic electricity meters and 21.2m domestic gas meters2 in the UK, the latest figures stated by Ofgem claim that only 19%3 of UK homes switch energy supplier each year, meaning that 81% of us are missing out on significant savings.
Commenting on the latest switching statistics, Scott Byrom (Chief Executive Officer) of energy comparison site The Energy Shop said:
"It's encouraging to see more people take action and switch their energy supplier. However, there is still room for improvement and I urge more of us need to wake up to the reality of the savings we have available."
"There have been huge strides in the energy market in recent years in terms of new entrants and consumer choice. Thirty-six percent (36%)4 of those switching are moving away from the "big six" to smaller entrants who offer great price as well as market leading customer service."
"Further to this, the market is offering consumers the chance to cut their energy bills by 25% and more of us need to take advantage of that."
"For so many families a huge chunk of their monthly income (~4%) is spent on energy and they can save £300 within 10 minutes if they invest the time to switch. By doing so now, you also protect your winter bills and can benefit from having credit reimbursed from the warmer summer months."
"We urge all consumers to review their energy tariff, become aware and alert to their energy consumption, cut their energy spend and in doing so, we believe, help to lower their carbon footprint."