About 657,000 households switched electricity supplier last month, the second highest figure on record, after rising prices prompted people to shop around. The surge follows Ofgem’s decision to allow suppliers to raise prices for 15 million households on standard or prepayment tariffs from the start of April. Energy UK, the industry body, said that more than 2.1 million households had switched supplier so far this year, slightly ahead of this stage in 2019, when switching hit a record high. Ofgem controls how much suppliers can charge 11 million customers on default tariffs through the energy price cap, introduced by the government at the start of 2019. The regulator updates the level of the cap twice a year.
The Times 17th May 2021 read more »