Energy switching hits record high in February

Lloyd Doyle
March 13, 2018

A total of 660,000 people switched energy suppliers across the United Kingdom in February, representing the highest monthly number ever recorded.

She said: "The willingness or ability to address energy bills is still alarmingly low".

About one-fifth of customers switching suppliers are opting for a small or mid-tier provider rather than one of the big six, said Energy UK.

"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", commented Lawrence Slade, chief executive of Energy UK.

More than 660,000 customers switched electricity suppliers in February - the highest number ever recorded, statistics reveal.

Frost added: "The recent cold weather could be one reason to explain the higher numbers we are seeing, as well as greater awareness due to a number of Government initiatives, like the legislation to cap standard variable tariffs, making the headlines".

If you're thinking of switching energy supplier, you'll be relieved to hear that 9 in 10 customers are happy with the switching process.

The switching figures are also likely to be a fresh blow for British Gas, which is the largest electricity supplier in the country, connecting almost a quarter of all United Kingdom households. "On Monday, February 26, just ahead of the pending storm, Comparethemarket saw a significant increase in energy switches". That's according to the Energy Switch Guarantee, which covers over 90% of the market and is meant to help ensure switching is simple, speedy and safe. Now this covers 90% of the retail market.

There are now over 60 suppliers across the United Kingdom market and smaller companies are increasingly launching competitive offers to win over customers who have been loyal to some of their larger competitors for years.

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