The Cornwall Energy report for February, March and April 2014 shows that the market share of the largest companies continues to be challenged by smaller companies, the number of suppliers in the market has increased and the size of the UK market has grown. The report, published by Energy UK, shows that the largest companies share of the dual fuel market has fallen to 92.2%. The number of domestic suppliers is at an all-time high of 25 companies.
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Faster switching is set to boost the positive impact switching is already having for consumers. The energy industry believes faster switching will encourage competition in the market and give customers greater confidence to shop around. Energy UK and its members will work with Ofgem but we need to keep consumer protection and data migration challenges in mind.
The energy industry employs workers up and down the country and, unlike many industries, has increased job opportunities. Between 2008 and 2013, employment in the energy sector grew by 30 per cent - a total of around 28,000 new employees.
“Improving energy efficiency is a great way to save money and help customers cut their bills. Energy companies are committed to helping people make their homes more energy efficient and warmer.
In response to Caroline Flint's speech 'The Choice on energy bills', Energy UK said:
In response to National Grid's tender for balancing reserve services, Energy UK said:
“The decision by National Grid to tender for additional reserves of electricity generation ahead of the coming winter is a very sensible step, with a number of power stations shut down for maintenance and others considering closing or considering closing. This statement demonstrates gives clarity on how it is proposed to maintain security of electricity supply this winter and also highlights the increasing concerns that some of the necessary conventional power stations are finding it very difficult to be economically viable in the current environment.
In response to First Utility's announcement that the company has reached one million customer accounts, Energy UK said:
The major energy suppliers announced today that they have launched the “MyEnergyCredit” campaign to reunite cash with former customers. The campaign has 3 parts:
Energy UK’s chief executive Angela Knight has today announced her intention to stand down from her post at the end of the year. Mrs Knight joined Energy UK in September 2012 and has brought together a number of organisations to create Energy UK. Mrs Knight now wishes to develop further a non-executive portfolio career.
Forty five per cent of switches that took place in the month of August were to small electricity suppliers with switches to small suppliers hitting 97,000. This comes at a time when smaller electricity providers are gaining a larger part of the market. Total switches remained high with 215,000 customers changing supplier.
In response to Which?'s survey on the consumer trust in energy companies, Energy UK said:
"Which? should be directing this issue to the Competitions and Markets Authority (CMA). The CMA has been set up for this purpose so that independent expert analysis and recommendations can be made, with conclusions that people know they can trust. Green costs, welfare costs, the wires and the pipes to get the electricity and gas to homes all ends up on the bill sent out by the supplier - but are not set by them.