Switching rockets up by 100,000
One hundred thousand more households switched electricity provider in February compared with January. This is an increase of around 50 per cent from month to month. The latest switching data shows that 317,000 households chose a new deal, well above the monthly average for 2014. Net switches to small suppliers also increased to 82,000. 25 per cent of all switches in February were moves to smaller electricity providers.
Lawrence Slade, chief executive of Energy UK said:
“This increase in the number of customers hunting around for a new deal is very welcome news. There are more suppliers than ever before and cheaper deals are announced every week. This is clearly a buyers’ market so it’s great to see customers are taking advantage of the falling prices.
“However we will not become complacent. We want more customers to engage with the market and find the best deal for them. There is plenty of choice on offer, so, if a customer thinks they might be able to save some money they should call their supplier or log on to a comparison site see if they can save by switching.”
Notes for editors
- The switching data is supplied by Electralink who provide a secure service to transfer data between the electricity market participants. The company operates the Data Transfer Network (DTN) which underpins customer switching, meter interoperability and other business processes critical to a competitive electricity market.
- The electricity switching report for February can be read in full online.
- Information about the switching process can be found on the Energy UK website.
- The Cornwall Energy reports on competition in the energy sector can be found on the Energy UK website.
- The Ipsos MORI report on consumer experience is available on the Energy UK website.