For an energy consumer, it can be baffling thinking about changing suppliers, especially when you only know the names of 3 providers and they’re all trying to hard sell you. Even when you use a comparison engine, the information is overwhelming. But have no fear! OFGEM is here!
OFGEM stands for ”Office for Gas and Electricity Markets” and they want to fight your corner when it comes to battling ‘The Big Six’ (energy providers not a wrestling team). The Big Six are the 6 main energy providers in the UK, they are (in order of customers)
- British Gas (20million)
- SSE (9.6 million)
- N-power (6.5million)
- EDF (5.7 million)
- E.ON UK (5.3 million)
- Scottish Power (5.2 million)
Two of The Big Six were fined close to £20 million in combined charges after mis-selling and preventing customers from switching after OFGEM got on their case. TBS (The Big Six) have the monopoly on power supply and charge you more than what you could be paying with another less well known provider. Last year, OFGEM went on a huge information gathering spree and came back with huge amounts of information, things like 60% of the population have never swapped providers and the average household can save £200 a year; thats £200 toward a city break for the grown ups in your household or a weekend trip to the seaside with the little ones.