Greater choice signals healthy competition
The latest Cornwall Energy report has found that indicators of competitiveness have increased, with the number of suppliers operating across the market reaching an all-time high.
The April update commissioned by Energy UK finds that:
• There are now 27 suppliers who supply gas, electricity or both, up from 25 since the last full report in October 2014.
• There are now 22 dual fuel suppliers, up from 19.
• The medium and smaller suppliers recorded a share of 9.5% in household electricity, 9.8% in gas and 11.6% in dual fuel—once again the highest they have ever been.
• One medium supplier recorded a share of more than 3% in the dual fuel market at 31 October 2014 (3.2%) and 31 January 2015 (3.5%).
Lawrence Slade, chief executive of Energy UK said:
“The latest Cornwall report is a welcome indication of healthy competition. We are seeing a change in market share that is a sign of the choice that is available to customers. Join the 1.2 million others who have switched this year and look around to see if there is a better deal available”.
Notes to editors
- This research was carried out by Cornwall Energy for Energy UK, an independent energy consultancy.
- The figures in the report are correct as of 31 January 2015.
- The report judges competition based on the number of competing suppliers, market shares and the Herfindahl-Hirschman Index of market concentration.
- Read the full Cornwall Energy report for April 2015 on competition in the household market.
- Read the previous Cornwall Energy report from October 2014 on competition in the household market.