Record switching levels as 24,000 customers a day switch energy supplier in February
Latest figures from Energy UK show that over 660,000 customers switched electricity supplier last month – the highest number ever recorded.
This represents a huge 60 per cent increase on the figure for February 2017 and means that this year alone over a million customers, more than the population of Birmingham, have saved money on their energy bills by switching.
The record number comes despite February being the shortest month of the year and means that nearly 24,000 customers a day switched during the month.
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 to provide additional consumer confidence in switching. The Guarantee, which now covers over 90% of the retail market, is a series of commitments to ensure switching is simple, speedy and safe.
The growing choice in the market is reflected by customers switching to small and mid-tier suppliers accounting for over 130,000 - or one fifth - of the total switches in February.
Today’s figures follow on from a record 2017 where over 5.5 million – or 1 in 6 - electricity customers switched provider.
Lawrence Slade, chief executive of Energy UK said:
“The energy market has never been so competitive and it’s great to see record numbers of consumers engaging in the market to get a better deal.
“Customers can make big savings by joining the millions who’ve found a better deal - through either checking with your existing supplier or choosing from over 60 suppliers on the market. And with the Energy Switch Guarantee in place, consumers can be sure that the process will be simple, speedy and safe.”
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.