There are now 72 active energy suppliers in the UK market, according to a new set of facts & figures released by the energy regulator Ofgem – with small & medium companies making up around one fifth of the market.
- Ofgem estimates a saving of £375 by switching away from one of the ‘big 6’ suppliers
- Gas prices are lower in the UK compared to the average European country
- UK electricity prices are around average
- 2.1 million electricity customers switched suppliers during the first half of 2018
In 2014, new regulations made it easier for smaller ‘independent’ energy companies to enter the market, providing some much-needed competition for the so-called ‘big 6’ who up until then had dominated the industry. Eversmart Energy launched in 2016 with an aim to educate energy customers who were paying too much, and moving them onto cheaper tariffs.
Since then, record numbers of people have switched suppliers, thanks largely to the internet and greater choice for consumers.
You can see the full set of findings below. Click or tap on the image to view the full-size version.
Infographic by Ofgem