Record numbers of consumers benefit as switching increases by 30%
The number of customers switching so far in 2017 has surpassed the total number of customers who switched in 2014, according to new data released by Energy UK today.
Nearly half a million (444,653) customers switched their supplier in August 2017, a 30 per cent increase compared to 2016. This takes the total number of customers switching in 2017 to nearly three and a half million – surpassing the total number who switched in 2014 (3.4million).
Customers are benefiting from having greater choice of energy supplier, with over 50 energy companies in the market. In August 2017 nearly a quarter of all switches (111,932 customers), moved to small and mid-tier suppliers from the larger suppliers.
This follows new data from the regulator Ofgem, revealing that the numbers of customers on standard variable tariffs has fallen by nearly one million in the last six months, following increased activity from energy companies to engage with their customers.
Lawrence Slade, chief executive of Energy UK said:
“The UK energy industry is changing, and at a rapid pace. To see switching increase by nearly a third – an increase of more than 100,000 customers on the same time last year, shows that progress is being made. This is on top of many more customers moving to better deals with their own supplier, a sign of the continued efforts of suppliers to engage with their customers to ensure a fair deal for all.
“There are a record number of companies to choose from, and deals which could save you hundreds of pounds so our advice to consumers is check your deal today - you could save in no time at all.”
Notes to editors
- To see the latest monthly switching stats, please visit Energy UK’s website.
- Around 74 per cent of the market are signatories of the Guarantee. This includes: British Gas, Bulb Energy, E.ON, EDF Energy, First Utility, Flow Energy, npower, Octopus Energy, Pure Planet, Sainsbury’s Energy, Scottish Power, So Energy and Tonik Energy. For more information about the Guarantee: 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.