Half a million more make a move in May
Latest figures, published by Energy UK today, show that half a million customers (493,912) switched electricity supplier last month, a 13 percent increase compared to May 2017.
This brings the total number of customers who have switched supplier over the first five months of 2018 to nearly 2.3 million, ahead of the figure at this time last year (2.2 million) when a record 5.5 million electricity customers – one in six – went on to make a change.
Small and mid-tier suppliers are continuing to make gains with over a third of total switches in May involving customers moving from larger suppliers to these providers.
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 confidence in switching. The Guarantee, which now covers over 90 percent of the retail market, is a series of commitments to ensure switching is simple, speedy and safe.
Lawrence Slade, chief executive of Energy UK said:
“The latest figures show that more and more customers are saving money by switching - with the numbers increasing on last year, a record year in itself.
“Finding a better deal is quick and will bring you a lasting saving – simply either call your supplier or have a look to see what else is on offer from nearly 70 competing suppliers. And with the Energy Switch Guarantee in place, customers can be sure that the process will be simple, speedy and safe.”
Notes for editors
• To see the latest monthly switching stats, please visit Energy UK’s website.
• The Energy Switch Guarantee covers over 90 per cent of the market. For more information about the Guarantee visit: 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