Surge in energy supply switching as customer confidence grows
Energy UK reports a huge surge in people switching energy suppliers with a record 660,000 making the move in just one month.
February saw 24,000 customers a day changing their supplier, the trade body says. The figures are 60% up on a year ago and the size of the shift is equivalent to everyone in a city the size of Birmingham making the move.
The mass migration coincided with some of the worst weather seen in the UK for many years, which pushed energy bills higher.
About 20% of customers are opting for a small or mid-tier provider and avoiding one of the big six, said Energy UK.
The big switch month accelerates the trend seen last year, when where over 5.5 million –one in six – electricity customers switched provider. That also set a record. In 2018 alone, more than a million customers have switched supplier to secure a cheaper energy bill.
Confidence in switching is also high with nine in 10 customers happy with the process, according to the Energy Switch Guarantee (ESG) scheme. The ESG is a voluntary industry commitment to ensure switching is simple, speedy and safe.
Lawrence Slade, the chief executive of Energy UK said: “The energy market has never been so competitive and it’s great to see record numbers of consumers engaging in the market to get a better deal.”
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