Record 5.5million switched energy supplier last year

A RECORD 5.5million households switched energy supplier last year, figures show.

The figure is 15 per cent higher than the 4.8million who moved to a better deal in 2016, and 2.3million more than in 2014.

In December alone, more than 400,000 households switched.

Some 28 per cent of those who moved went to smaller providers rather than one of the Big Six, according to the statistics compiled by Energy UK.

However, Stephen Murray, of comparison site MoneySuperMarket, said the 2017 figures still represented fewer than one in five households in the UK.

Around 12million households are believed to still be on expensive standard variable tariffs, despite a report from the Competition and Markets Authority that said they were contrbuting to £1.4billion in excess profits to energy companies.

The Government has announced plans for a cap on these tariffs, which should cut bills by around £100 a year for millions.