Millions of people across the UK are reacting to rising energy bills by switching to less expensive providers and tariffs, it has emerged.
A report from industry regulator Ofgem revealed that more than five million people elected to switch suppliers last year in an attempt to exercise more efficient debt management.
Reacting to the figures, consumer watchdog Which? stated that consumers were using their buying power to ensure that funds were not being wasted.
"There are still savings to be made though," stated Siobhan Parker of Switch with Which?. "About 50 per cent of UK households have never switched provider and even those who have already switched may find that new tariffs could offer further savings."
Anyone struggling to handle household bills and other demands on their wallets might like to consider individual voluntary arrangements as a means of addressing their debts.
Earlier this year new standards were introduced, agreed by IVA providers and the credit industry, in a move designed to protect consumers’ interests.