UK Money News
25th January 2008
Price hikes 'will cause energy switching'
An increasing number of consumers will switch their energy providers in weeks to come as prices continue to rise, one expert has asserted.
Many people have already opted to change their energy provider after prices were hiked recently and the trend is set to continue as individuals aim to keep a firm grip on their personal finances, according to Tim Wolfenden, head of home services for uSwitch.co.uk.
Additionally, Mr Wolfenden has suggested that the rate of switching will be given a particular boost when the increased tariffs start to have a real impact on households and potentially their trouble with debt.
"For those consumers who may be sitting at home going: 'Ah well, it probably isn't that bad', when they get a new bill landing on the doormat and it's £100 higher … then it comes home in real terms," he explained.
A recent report from Alliance Trust indicated that the personal finance pressures facing British consumers have increased considerably in recent weeks and months.
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