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Energy customers switch in 'record' numbers

Householders looking to lower their energy bills switched suppliers in large numbers last year, Ofgem has said.

The gas and electricity watchdog said that five million customers have changed their tariffs for price reasons - the highest figure for years.

According to the body, an average of £92 can be saved through shopping around for a better deal.

Ofgem chief executive, Alistair Buchanan, said: "The number of customers switching supplier is increasing and five million account switches alone in 2007 shows that suppliers who don't offer competitive prices and good service will lose customers.

"However, some customers have voiced concerns about the market and we have responded by launching an investigation to examine whether it is working effectively for all customers."

According to the National Audit Office, the energy market in the UK is worth £17 billion, the BBC reports.

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