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Brits waking up to benefits of switching

New data from the energy watchdog suggests that more and more Britons are realising the benefits of switching energy provider. According to figures from Ofgem, the number of consumers transferring from their existing provider in search of a cheaper deal hit a five-year high of 5.1 million last year. The findings were welcomed by Alistair Buchanan, chief executive of Ofgem, who claimed that they were proof that campaigns to raise awareness of the benefits of switching were working. He said: "The number of customers switching supplier is increasing and five million account switches alone in 2007 shows that suppliers who don't offer competitive prices and good service will lose customers." The survey did however also reveal that those from poorer income groups are less likely to switch than wealthier consumers. In response, Ofgem has launched a new scheme called Energy Best Deal in conjunction with Citizens Advice to promote the practice among the unemployed and pensioners.

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