Energy price cap saves money for 11 million customers in 2019
And those who switched suppliers saved the most...
The government's energy price cap saved UK energy customers a combined £1 billion in 2019, it's been reported.
More than 11 million UK customers were safeguarded by the cap. But perhaps even more impressively, 4.4 million electricity customers and 3.6 million gas customers switched in the first 9 months, most of whom made the biggest savings.
Switch to save
The average saving per household was between £75 and £100 as a result of the cap, which was a clear demonstration of its positive effect. But for business and residential customers alike, it's really encouraging to see the increasing willingness to switch suppliers.
Those who switched supplier would have enjoyed average savings of around £290 across the year - considerably more than through capped rates from an existing supplier.
In the energy sector, the savings on offer by switching supplier are especially high, for a number of reasons. When customers go out of contract, they're moved on to variable rates which can become extremely expensive. Energy costs are also often a small business' second highest overhead, making even small rates savings stack up when factored against high monthly use.
In short, if you're coming towards the end of your energy contract, it's definitely worth browsing the market to see what deals are available. And if you're an XLN phone or broadband customer already, get in touch - we can offer you our very best rates and our very best contract terms.