Households could save hundreds by switching supplier

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Energy Regulator Ofgem has highlighted potential savings that consumers could make from fixed energy deals.

The advice follows the recent announcement of a 4% rise in the energy price cap, which will increase household bills.

The regulator says that fixed tariffs are available at £100 or more below the October price cap. So by having one consumers could save £173 per year.

Around 11 million homes, which is about 35% of households, are already using this system for their bills and will be protected from the changes in the Autumn.

This year has seen a record number of supplier switches, as in July consumers changed a total of 362,000 times.

With further concern surrounding more cap increases in January, a rise in provider switching may become a common occurrence.