UK Money News
2nd April 2008
Numbers of energy switchers hit five-year high
The number of Brits switching energy providers hit a five-year high last year, new data from the UK energy watchdog shows.
According to figures from Ofgem, 5.1 million Britons switched from their existing provider to a rival power company last year.
Alistair Buchanan said the figures were proof that the deregulation of the industry had prompted increased levels of competition - and that consumers are waking up to the cost savings that can be made by switching.
He commented: "The number of customers switching supplier is increasing and five million account switches alone in 2007 shows that suppliers who don't offer competitive prices and good service will lose customers.
"However, some customers have voiced concerns about the market and we have responded by launching an investigation to examine whether it is working effectively for all customers."
The study did however also reveal that consumers in lower income groups were less likely to switch.
In response, Ofgem has launched a new pilot campaign called Energy Best deal to promote awareness of the practice among pensioners and the unemployed.
back to April's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
