Over 630,000 customers make a move in October
Latest electricity figures from Energy UK - published today - reveal that over 630,000 (633,238) customers moved to a new supplier last month.
This is three percent up on October last year and brings the total number of switches to nearly five million (4,917,486) so far in 2018 - up six percent on this point last year.
In October a net 167,817 customers switched to small and mid-tiers suppliers which is 27 percent of all switches. Confidence in switching remains high with nine in 10 consumers happy with the process according to research from the Energy Switch Guarantee, an industry initiative which provides customers with extra confidence in switching.
Lawrence Slade, chief executive of Energy UK, said:
“It is encouraging that increasing numbers of customers continue to switch with over 630,000 making a move last month. With the price cap due to come in place in January we hope that this progress won’t be halted and we will be monitoring activity closely.
“Wholesale prices have risen by at least 30% in the last year, with Ofgem recently signalling that the price cap is likely to increase if this trend in rising costs, which are outside of suppliers direct control, continues. So it’s more important than ever that consumers get in touch with their supplier to make sure they are on the best energy deal – and look carefully at deals that could protect them against further rises. It only takes a few minutes to switch and the Energy Switch Guarantee gives consumers extra confidence that the process will be simple, speedy and safe.
“With such a wide choice of suppliers, you can also look for one which best meets your expectations on things like customer service or green tariffs. Ultimately the best way to keep bills down is making sure your home is as efficient as possible, so I would urge consumers to ask their energy provider about energy efficiency measures which are proven to keep bills down.”
- To see the latest monthly switching stats, please visit Energy UK’s website.
- 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.