UK: how much can you actually save by switching?
Genuine market — savings are real, though the clearest current stat is a market snapshot rather than an official savings estimate — compiled August 2026.
Switching hit a 4.5-year high in early 2025
252,000 people switched electricity supplier in January 2025 alone (+22% year-on-year), rising to 270,000 in February — the highest switching volume in 4.5 years. The clearest current savings gap: the cheapest deals on the market run around £1,574/year versus the Q3 2026 price cap of £1,862/year for a typical dual-fuel household — a real £288/year gap between shopping around and sitting on a default tariff.
Source: Ofgem retail market indicators & press release; Uswitch cheapest-tariff tracking, Aug 2026
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