2017 UK Energy Switches Reach 3 million
Trade body, Energy UK have released the latest switching figures which reveal that over 3 million consumers have switched supplier so far this year – a rise of 14% from this time last year. 385 000 consumers switched in July alone – a 16% increase from last year’s figures.
Against the backdrop of rising energy prices, consumers are shopping the market for the best deals and this is the primary driving force behind the statistics. A Utility Week survey has revealed that around a third of consumers were switching for the first time. Of those who had not switched, 39% of them said they had no intention to do so.
Commentators have found the figures encouraging. An increased switching rate is a sign that suppliers are addressing consumers’ needs and paves the way for further improvements by suppliers in terms of customer service, innovation, technology, and competitiveness.
However, the market is still divided with only a third of consumers actively switching and it is hoped that this upward trend is indicative of more and more consumers’ awareness around the benefits of switching.
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