Energy switchers boost website

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The Independent Online

Higher energy prices have not damaged everyone's household finances: those with shares in the websites advising people on switching to other suppliers are making big profits.

The biggest price-comparison website, Moneysupermarket, yesterday saw its shares surge 16 per cent after it said the rush of customers looking to switch from Centrica and the other big energy firms had pushed revenues for the current quarter more than 25 per cent higher than a year ago.

Faced by price rises of 9 per cent and more, well over 100,000 householders swapped their energy supplier through Moneysupermarket since the price-rise announcements started last month. Moneysupermarket makes a fee from referring customers.

Other sites also benefited, with Quidco saying it saw nearly double the number of energy deals going through its site in October than September.

Moneysupermarket shares rose 24.7p to 179.7p.