High Consumer Confidence in Supplier Switching

By : Business Save |June 19, 2019 |Energy Blog |0 Comment

New Record Set For Customers Switching Suppliers

The highest ever number of consumers switching energy supplier over the course of one month was recently recorded. Over 600,000 energy customers switched their supplier during April, which trade association Energy UK says is a new record.

That total amount of energy supplier switches has now risen to over two million so far in 2019. That is an increase of 18% over the the same period last year.

The exact number who switched this April is 668,371, a massive increase of 34% on April of 2018.

High Consumer Confidence in Supplier Switching

The Chief Executive of Energy UK, Lawrence Slade, spoke about consumer confidence in switching being especially high right now. He identified the Energy Switch Guarantee that covers most of the energy market to be the source of that confidence.

Mr Slade said of the high amount of customers switching energy supplier, “It is very positive to see that record numbers of customers continue to move to a new supplier in search of a better deal and we must remember Ofgem’s figures also show many more each month move to a better deal with their current supplier. So, I would encourage everyone to get in touch with their supplier, or have a look online for better prices. Whether this be on price or the type of tariff you are looking for, always look for a better deal!

“And, at a time when we are facing a climate challenge on a global scale, it is important for all of us to look at our energy use and ensure our homes are energy efficient. This is the best way to keep your energy bills down while also reducing your carbon footprint so you can help save money and the planet.”

Energy UK found that eight out of every ten customers that have switched supplier were happy with the process.

Supplier Switching Trend Continues

The latest numbers indicate 2019 is on course to break the annual record number of supplier switches recorded last year. The huge amount during 2018 was largely blamed on the price hikes suppliers made ahead of the price cap.

The Chair of the Business, Energy and Industrial Strategy Committee, Rachel Reeves, was heavily critical of the Big Six suppliers. Referring to a survey by Which? which highlighted the dissatisfaction of Big Six customers, Ms Reeves said, “The Big Six are miserably failing their customers. Having ripped off loyal customers on SVTs [standard variable tariffs] for far too long, this survey shows that they aren’t delivering a service which is up to scratch either.

Ms Reeves added, “Customers should continue to shop around because they cannot rely on energy suppliers giving consumers a good deal or delivering the quality customer service which they deserve.”

If you are interested in learning more about the different energy suppliers and tariffs that are available to you, contact Business Save and their team of highly experienced energy experts.

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