Another record year for switching
Energy UK’s electricity switching figures, published today at the start of Big Energy Saving Week, reveal that 2018 was a record year for switching with over 5.8 million - or one in five - customers making a change. This is a 6 percent increase on 2017’s record figures when 5.5 million customers switched electricity supplier.
The switching data shows that, on average, nearly half a million customers switched supplier every month in 2018. This continues the trend of year-on-year increases in energy switching and high levels of engagement, particularly when compared to other sectors.
In December alone, nearly half a million customers (464,378) switched supplier, up 10 percent on December 2017. The figures show that nearly 100,000 customers (98,962) switched to small and mid-tier supplier last month, which is 21 percent of all switches in December.
Consumers continue to have confidence in switching according to the latest research from the Energy Switch Guarantee – an industry initiative that makes switching simple, speedy and safe.
Lawrence Slade, chief executive of Energy UK, said:
“It is positive to see such high levels of energy switching - particularly when compared to other sectors – with one in five customers switching supplier in 2018. My hope remains that, with the recent introduction of the price cap, we don’t see this element of competition undermined and switching levels fall, as is predicted in Ofgem’s impact assessment.
“With winter in full swing, I urge everyone to get in touch with their supplier or have a look online to make sure they are on the best energy tariff for them, whether that be on price, service or green considerations. More importantly, as the temperatures fall, consumers should ensure their house is energy efficient - for example checking that it is well insulated - which is the best way to keep energy bills down in the long run.”
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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
- According to a Go Compare survey, energy was amongst the top 3 switching sectors in 2017 with a 19% switching rate, ahead of broadband, mobile (both 11%) and banking (8%) but behind car and home insurance (27% and 23% respectively).
- 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.
- Almost 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.