Switching Energy Supplier catches on in Wales

It has taken some time for changing energy company to become as popular in Wales as it is in the rest of the Great Britain.  OFGEM has just released 2016 figures which show that more people in Wales changed their gas and/or electricity supplier than in the rest of the country.  586,000 Welsh energy accounts were ‘switched’ which amounts to 17% of accounts versus 15.8% overall in GB.  This is good news for bill payers in Wales who should find that they save over £200 per year on their fuel bills.  142,000 more Welsh households made the move in 2016 giving a dramatic increase in activity of 32% over figures for 2015.  This shows a big change in the energy buying habits  of Welsh households indicating that consumers are becoming more cost conscious and pro-active.  Previously, Welsh consumers had a reputation for staying loyal to their old energy providers and consequently, remained on the ‘standard variable tariff’ and missed out on savings and offers claimed by others.  Switching has never been easier and should now take just 3 weeks, including the 14 day ‘cooling off’ period.  Another sign that consumers are gaining more confidence in using the competitive market is that more people, around 50% of those who ‘switch’  are choosing to buy their energy from medium and smaller supply companies, moving away from the ‘Big Six’.