£170 Year Savings:

More than 2.8m households have switched gas and electricity suppliers in the last six months, according to the energy regulator, Ofgem, which found that homeowners who have never switched are missing out on savings of up to £170 a year. In a report out today, Ofgem says it expects around 4.8 million homes will switch suppliers this year as consumers "continue to hunt for the best deal".The regulator warns that those who continue to pay quarterly bills to their regional electricity supplier and British Gas are substantially overpaying to heat and light their homes. Consumers can save £60 a year simply by electing to pay by direct debit, it says, while other discounts were available to dual-fuel customers. Ofgem chief executive Alistair Buchanan said: "With 2.8 million households switching in the first half of the year, the heat is still on suppliers to offer customers the best deal for their energy. With winter drawing in and all suppliers having lowered their prices, now is a good time for all customers to check whether they are getting a good deal. "This is particularly true for prepayment meter customers, who can reap savings of £100 on average if they have never switched supplier." The number of people switching has plateaued recently after rising steadily over the last decade. Ofgem says that the number of switchers this year would be only slightly higher than in 2006. In 2005, their number rose by 750,000, prompted by a big increase in bills.