One in five households have signed up to innovative energy deals such as fixed price offers or going with internet-only or environmentally aware providers, research from energy regulator Ofgem has found.
Three million have opted for a fixed-price deal on their gas and electricity, and a further 1.2 million are benefiting from online deals.
Consumers are able to do this because energy suppliers are finding that they have to be increasingly competitive, offering new products and discounted tariffs as well as better customer service, in light of research which showed one in ten people switch as a result of experiencing poor service.
They are also demonstrating social awareness by providing special deals for vulnerable groups, such as the elderly and low-income families, and supplying more environmentally friendly energy options, rewarding customers who reduce their energy usage.
Alistair Buchanan, Chief Executive of Ofgem, said: “Ofgem’s research shows that customers are punishing firms that do not deliver on price and service - switching rates remain strong. Suppliers are responding by cutting prices, improving service and developing new energy products to attract and retain customers.
“But a large number of customers are still missing out on savings and better customer service by not shopping around. Customers have a choice and can switch away from suppliers who offer high prices or poor service.”
Learn more about how switching energy providers can cut your bills