600,000 homes switched enery supply last month saving over £400 each

The number of people switching their energy supplier hit a three year high last month at 600,000, 53% more than in September, according to Energy UK.

A smart financial move when latest figures from uSwitch show the average saving for switchers is £403 a year.

Hefty energy bills are on the horizon as we head into winter and there’s an extra sting in the tail as firms are beginning to hike up prices.

Flow Energy is the latest to raise its standard price by 9% from £872 to £949 a year and Extra Energy has removed its market-leading £851 fixed deal off the market.

Claire Osborne, energy expert at uSwitch.com, said: “It’s very encouraging to see such high numbers of consumers taking control of their energy bills as we head into winter.

“Rising wholesale costs have already led some small and medium suppliers to increase their prices and further rises could be on their way.

”There’s still more to be done though. Almost 2.5million households are already in significant debt to their energy supplier before the cold snap has even kicked in, and customers are still over-paying for their energy by around £1.4billion annually.”

If you haven’t switched on to a fixed deal you need to move quick – so you don’t miss out on the best deals and to avoid any nasty shock bill rises this winter.

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Written by: Houseladder