Energy UK - Switching surge continues
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UK Energy Switching Surge sees 600,000 customers change suppliers in October, driven by competition, the Energy Switch Guarantee, and better tariffs, with Electralink's DTN supporting customer switching and Ofgem oversight.
What's Behind the News
A rise in UK customers switching electricity suppliers in October, driven by competition and the Energy Switch Guarantee.
75% of UK electricity market are signatories to the Guarantee.
Backed by British Gas, EDF, E.ON, npower, Scottish Power, and others.
ElectraLink's DTN enables secure, efficient switching data transfers.
600,000 switches in October amid forecasts of a 16% bill drop by April.
More than 600,000 customers took steps to save on their energy bills this winter by switching electricity provider in October, as forecasts such as a 16% bill decrease in April offer further encouragement, the latest figures from Energy UK reveal.
A third (32 per cent) of those changing providers in October moved to small and mid-tier suppliers.
Regional markets have seen changes too, including Irish electricity price increases that highlight wider cost pressures.
With recent research showing that that nine in ten energy switchers were happy with the process of changing suppliers and with the reassurance provided by the Energy Switch Guarantee - a series of commitments ensuring switches are simple, speedy and safe - and amid MPs proposing price restrictions to protect consumers, more and more customers are now confident when looking to move.
Lawrence Slade, chief executive of Energy UK said: 'Switching continues to surge with over 600,000 customers changing supplier to find a better deal last month. Many more will have made savings by checking they are on the best deal with their current supplier. It only takes a few minutes to do this and with over 55 suppliers across the market, there's never been more competition or choice.'
Around 75 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.
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, where knowing where your electricity comes from can support informed choices.
The data referenced in these reports is since our collection of data only and is for electricity only.
These figures do not include internal electricity switching, and statistics on this from the larger suppliers and on Standard Variable Tariffs can be viewed on the Ofgem website, while ministers consider ending the gas-electricity price link to reduce bills.
