Almost two-thirds of Brits would switch energy provider if new price cap limit increases bill

A new survey has revealed that as much as 65% of Brits would switch the heir household energy provider if Ofgem's new price cap limit increases their bill.

With the industry body looking set to increase price cap limits for customers on standard variable tariffs later in the week, a new survey undertaken by Opinium revealed that 28% of households that will be affected by a change fear their energy bills will rise.

The price cap, which came into force at the beginning of the year, was designed to limit SVTs, which tend to be more expensive than fixed-price deals and susceptible to sudden and substantial increases by energy companies.

However, just 8% of Brits on an SVT were confident that their bills would remain cheaper than they would have been before the price caps were introduced and a further 29% simply have no idea if their bills will be affected by a price cap increase.

Energy and utilities head at Opinium, Adam Wilson said: "Clearly Ofgem’s expected increase to the energy price cap will incite dissatisfaction among consumers, who have only just started to benefit from the initial cap."

"Over a quarter of households on standard variable tariffs – which the price cap is designed to protect – are concerned their energy bills will now become more expensive. However, if this is the case, it may be a blessing in disguise for some households, who might be encouraged to switch provider to gain a better deal, particularly as the limit could change again in six months’ time when it’s next reviewed."