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The Guardian - UK
The Guardian - UK
Business
Zoe Wood and Rupert Jones

Ofgem energy price cap cut expected to revive switching of suppliers

Ofgem Martin Lewis Jonathan Brearley MoneySavingExpert
ELECTRIC BULBS WITH INTERNET COMPARISON WEBSITE SCREEN RE COSTS PRICES SWITCHING ENERGY SUPPLIERS RISING HEATING BILLS GAS UK.
Martin Lewis, the MoneySavingExpert founder, said he expected to see deals offered to existing customers in the form of a ‘bespoke offer’ from suppliers. Photograph: Rosemary Roberts/Alamy

The move to cut the energy price cap is expected to trigger a revival of switching between suppliers as firms bring back more competitive fixed deals – but consumers have been told not to expect “a deluge of cut-price offers”.

The price comparison website Uswitch.com claimed it was “a watershed moment” for energy suppliers, which could now look to start offering fixed deals again. Jonathan Brearley, the chief executive of the regulator Ofgem, said he was “very hopeful” that competitive fixed-price deals would return to the market.

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