GRAHAM HISCOTT 3m customers ‘dump Big Six’ Rival’s claim as firms face Ofgem price caps

AROUND 3.3 million customers have switched away from the Big Six energy suppliers in the past three years, a rival claims.

Bulb’s research also calculated revenues at British Gas, EDF Energy, E.ON, npower, Scottish Power and SSE slumped by a combined £2.7billion between 2015 and 2017.

The findings come as firms face a new hit from price caps due to be announced by industry regulator Ofgem today.

Limits will be slapped on the unit rate and standard charge on suppliers’ “default” deals – mostly their standard variable tariffs. A consultation in September proposed capping the average bill for someone paying by monthly direct debit at £1,136 a year, or £1,219 for those paying by cash or cheque.

The exact amount will depend how much energy households use, but Ofgem previously said it would save the average customer £75 a year.

However, suppliers have unleashed a wave of price hikes in recent months, blaming soaring wholesale costs. Ofgem will today confirm the exact level of the cap – which will be reviewed twice a year – and when it will kick in, expected to be next month. Bulb, which claims it is now the biggest firm outside the Big Six with more than 850,000 customers, says its large rivals have seen account numbers fall from nearly 44.6m to 42.3m between 2015 and 2017.

It is also says cost cutting by the Big Six has led to them shedding more than 3,000 net jobs. Hayden Wood, co-founder of Bulb, said: “We believe 2019 will be a watershed moment for the UK’S energy market.”

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