Switching hits new record in 2018
Latest electricity figures from Energy UK, published today, show that over half a million (547,660) customers moved to a new supplier in September - the highest number of switches in a month so far in 2018.
This tips the total number of switches in 2018 to over four million (4,284,248) which is up by six percent on the same time in 2017. September’s figure is also a 12 percent increase on the previous month’s switching numbers (494,839 in August 2018).
An ever-increasing number of consumers are taking advantage of the deals on offer from over 70 suppliers operating on the market. In September 31 percent (172,193) of all electricity switches were to small and mid-tier suppliers.
With the Energy Switch Guarantee, an industry initiative that makes switching simple, speedy and safe, covering over 90 percent of the market, consumers can continue to feel confident in switching.
Lawrence Slade, chief executive of Energy UK, said:
“It is great that switching reaches a new high in 2018 – with over half a million customers making a move last month reaping the benefits of increasing competition and innovative services.
“With the proposed price cap expected to be in place by the end of the year it is crucial that switching doesn’t suffer, with Ofgem’s own impact assessment suggesting there could be significant impact on switching levels.
“Our hope is that consumers will continue to take advantage of the ever-growing competition and choice and significant savings that are available by either contacting their existing supplier or shopping around for the right deal for them whether that’s a green tariff, cheaper deal or better customer service”.
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 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.
- These figures do not include internal electricity switching. Such statistics can be found on the Ofgem website