Energy suppliers could soon start offering fixed-term energy deals that are cheaper than the UK Government's price guarantee, making it worthwhile for customers to start shopping around again. Cornwall Insight, an energy consultancy, said it thinks the number of customers switching to a new supplier could skyrocket from the start of July.
It would bring back a semblance of normality to an energy market which has been completely transformed by a pricing crisis over the last couple of years. In 2019 nearly half a million customers were switching suppliers every month in a bid to find a better deal than they would have got with their current supplier, but that dropped to a trickle during the energy crisis - in 2022 just 85,000 households were switching every month.
The soaring energy bills made it virtually pointless for customers to switch, because no energy supplier was able to offer a fixed-term deal that was significantly cheaper than the price cap on energy bills.
