High five million for energy switching as new companies join guarantee
Over five million customers have now switched electricity supplier in 2017 topping last year’s figure. The latest figures from Energy UK come as another three major suppliers sign up to the Energy Switch Guarantee (ESG) – which now covers over 90% of the market.
More than 475,000 customers took action to save money by switching provider during November, up by 14 per cent on this time last year. With now more than 55 suppliers to choose from now, nearly a quarter (24 per cent) of the monthly switches were to a small or mid-tier supplier.
In addition, SSE, OVO Energy and Utility Warehouse have now all signed up to the Energy Switch Guarantee, which means that over 90% of the market is now covered by the scheme. The Energy Switch Guarantee is an industry-led initiative through which companies sign up to a series of commitments ensuring customer switches are simple, speedy and safe.
Ofgem numbers estimate that, in addition to those switching supplier, double that number make a change with their current provider. This means that in excess of 12 million households will have actively chosen the best deal for themselves by the end of 2017.
Lawrence Slade, Chief Executive of Energy UK said:
“Over five million customers have now taken action to lower their bills, topping last year’s figure and showing how more and more people are realising how quick and easy it is to save money. If you have not done so already, spend a few minutes contacting your own supplier to find a better deal or switch to one of the 55 plus suppliers out there. It will be well worth the effort.”
Tina Tietjen, Independent Chair of the Energy Switch Guarantee said:
“We’re delighted to welcome three new major suppliers to the Energy Switch Guarantee. It means that even more customers can switch with confidence to suppliers of all sizes covered by the scheme, knowing the process will be simple, speedy and safe.”
Chris Houghton, Managing Director of OVO Energy, said:
“We have built OVO Energy to make life easier and better for our customers and we’re constantly striving to improve their energy experience. That’s why we’re joining the Energy Switch Guarantee, by signing up we’re committed to giving customers a secure and reliable way to switch.”
Tony Keeling, Chief Operating Office of SSE Retail, said:
“SSE is proud to have become a signatory to the Energy Switch Guarantee. The energy market is highly competitive with suppliers competing on both price and service. Customers are responding by shopping around and, this year alone, there have been over 4.5 million switches. By supporting the Energy Switch Guarantee, SSE commits to ensuring a reliable and hassle-free switch in just 21 days.”
Notes to editors
- To see the latest monthly switching stats, please visit Energy UK’s website.
- Over 90 per cent of the market are signatories of the Guarantee. There 23 signatories including: British Gas, Bulb Energy, E.ON, EDF Energy, First Utility, Flow Energy, M&S Energy, npower, Octopus Energy, OVO Energy, Pure Planet, Sainsbury’s Energy, Scottish Power, So Energy, SSE, Tonik Energy and Utility Warehouse. For more information about the Guarantee: www.energyswitchguarantee.com
- The total switching figure for 2016 was 4,910,412. 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.
- 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.
- These figures do not include internal electricity switching, statistics on this from the larger suppliers and on Standard Variable Tariffs can be viewed on the Ofgem website