The number of consumers switching to a new energy supplier soared in the wake of a price increase from British Gas, creating the market’s biggest ever year on year surge last month.
Fresh figures from Energy UK have revealed that nearly half a million customers switched their energy supplier in August, a 30pc jump from the number who switched in the same month last year.
The record surge brings the number of switches so far this year to 3.5 million, more than the total number of switches over the whole of 2014.
The figures underline the challenge facing the incumbent energy supply giants as they struggle against rising competition in the retail energy market.
“The UK energy industry is changing, and at a rapid pace,” said Lawrence Slade, chief executive of Energy UK. “There are a record number of companies to choose from, and deals which could save you hundreds of pounds.”
The boom in customers shopping around for a better deal follows a 12.5pc price hike from Britain’s largest energy supplier.