Switching on track to beat last year’s record
Energy UK’s latest figures – published today - reveal that nearly half a million (497,050) customers switched electricity supplier in November. This brings the total number of switches to over 5.4 million so far in 2018 which is on track to break last year’s record figure – when 5.5 million customers changed supplier.
The figures also show that as a percentage share of all switches, 17 percent of customers moved from large suppliers to small and mid-tier providers last month.
Consumers continue to be happy with the switching process (9 in 10) according to research from the Energy Switch Guarantee – an industry initiative that gives consumers extra confidence to move to a new supplier.
Lawrence Slade, chief executive of Energy UK, said:
“It is great news that consumers continue to switch supplier whether in search of a better deal, a green tariff or better customer service and that switching is on track to break last year’s 5.5 million record.
“However, with the price cap coming into effect in the New Year, I’m worried that energy customers might feel a false sense of security and they might stop reaping the benefits of increasing competition and innovative services.
“With the rest of the winter ahead and temperatures already plummeting across the country, I’d encourage everyone to make sure they’re on the best energy deal for them – by getting in touch with their supplier or having a look online. And with the Energy Switch Guarantee in place consumers should also feel confident that switching will be simple, speedy and safe.
“Consumers might also want to talk to their supplier about energy efficient measures – such as roof insulation – that pay off massively when it comes to saving money on their energy bills in the long term.”
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Notes for editors
- To see the latest monthly switching stats, please visit Energy UK’s website.
- In November, Ofgem appointed Scottish Power to take on Extra Energy’s 108,000 domestic customers and 21,000 business customers, after Extra Energy ceased trading. These customers have been discounted from the figures above.
- The switching data is now supplied by Gemserv (starting from September 2018). Gemserv Limited is the service company contracted by the MRA Service Company (MRASCo) to provide services in support of the MRA including the management of its governance and providing specialised expertise to MRASCo in support of the growing electricity retail market. Historical data up to August 2018 was provided by Electralink.
- 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.
- Over 90 per cent of suppliers (by market share) are signatories of the Guarantee. For more information about the Guarantee: www.energyswitchguarantee.com
- These figures do not include internal electricity switching. Such statistics can be found on the Ofgem website.