New Year switching following suit after record 2017
The number of customers switching electricity supplier is continuing to rise following record numbers in 2017.
The latest figures from Energy UK show nearly 400,000 customers switched during January 2018 – a 14% increase on the same period last year. Of these switches, a quarter (25%) represented customers gained by small and mid-tier suppliers.
The numbers show more and more customers making an active choice to seek out better deals after a record 5.5 million customers – 1 in 6 – switched supplier during 2017. Millions of customers will have additionally switched to a better deal with their current supplier.
Confidence in switching is also high with 9 in 10 customers happy with the process according to the Energy Switch Guarantee (ESG), a voluntary industry initiative. 90% of the retail market is now covered by the ESG, a series of commitments by signatories to ensure that switching is simple, speedy and safe
Lawrence Slade, chief executive of Energy UK said:
“It’s great to see 2018 picking up where 2017 left off. There’s real momentum behind switching as more and more customers find they can save money on their energy bills by taking advantage of the competition and choice that is out there.
“The Energy Switch Guarantee also assures customers that the process will be simple, speedy and safe. So now is a great time to take a few minutes to find a better deal either by contacting your current supplier or switching to one of over 60 suppliers in the market.”
Notes to editors
- To see the latest monthly switching stats, please visit Energy UK’s website.
- Over 90 per cent of the market are signatories of the Guarantee. For more information about the Guarantee: www.energyswitchguarantee.com
- The switching data is supplied by Electralink who provides 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 data referenced in these reports is since our collection of data only and is for electricity only. These figures include both domestic & non-domestic customers.
- These figures do not include internal electricity switching, statistics on this from the larger suppliers and on Standard Variable Tariffs can be viewed on the Ofgem website