Half a million customers switch in May
Energy UK’s new electricity figures, published today, show that 487,231 customers switched supplier last month, slightly down (1.4%) compared to May 2018.
Over 2.5 million (2,606,747) customers have moved to a new supplier so far in 2019, 14% up on the same time last year when a record 5.8 million – or one in five – customers switched supplier.
Energy Switch Guarantee’s latest research, published last week, also found that nearly half of consumers said they have switched supplier in the last four years and over a third of those who haven’t switched said they are happy with their current supplier’s service (39%) or with the price of their tariff (34%).
The Energy Switch Guarantee is a voluntary industry initiative set up by Energy UK in 2016 to ensure switching is simple, speedy and safe for customers and now covers around 85% of the retail market. The research also showed that 83% of consumers who have switched supplier in the last four years are happy with the switching process.
Lawrence Slade, chief executive of Energy UK, said:
“Last month’s figures might not be record-breaking but it is worth noting that half a million customer switches every month has become the ‘new normal’. And with the number of suppliers doubling from 29 in 2015 to around 60 now, energy consumers have more choice and services offered to them than ever before.
“With cheaper tariff alerts on every bill, it only takes seconds to check whether you could save money with your current supplier, so I encourage everyone to check, call their supplier or have a look online to see if they can be on a better deal but more importantly invest in energy efficiency measures which is not only the best way to save on energy bills in the long run but also can help with decreasing their carbon footprint and saving the planet.”
Notes to Editors
- To see the latest monthly switching stats, please visit Energy UK’s website.
- The rise in switching figures over last few years has been as follows:
- 2014: 3,196,243
- 2015: 3,835,736
- 2016: 4,822,885
- 2017: 5,543,472
- 2018: 5,878,914
- 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 for electricity only. These figures include both domestic & non-domestic customers but do not include customers transferred to another supplier as a result of the Supplier of Last Resort process (SOLR).
- 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.
- Energy Switch Guarantee’s research was conducted by Populus in the form of an online survey with 2,816 respondents living in Great Britain who are responsible for their household’s energy supplier and it took place between 13th-17th March 2019. For more information click here.