Ofgem: 5m switched supplier last year

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Over five million people switched to a different energy supplier last year, according to new research.

According to Ofgem, which was behind the new figures, the statistic means that the number of people changing their energy supplier is at its highest level for around five years.

The energy regulator also encouraged people to consider a change after it estimated that people who have never switched and pay on receipt of their bill can save around £100 by doing so.

Alistair Buchanan, the chief executive of Ofgem, said the research "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," he added.

Research released by Ofgem in October found that nearly three million households switched their energy deals in the first seven months of last year.

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