Recent switching data from our Energy Market Data Hub (EMDH) shows 530,000 customers switched energy supplier in August 2019, 8% more than August 2018. August was also the month with the third most switches in 2019 so far. The total number of completed switches in 2019 has thus risen to over 4 million (4,112,000) – 10.7% more than over the same period last year.
Switches started reached 652,000, slightly down from August 2018’s 654,000 as well as July 2019’s 677,000.
More challenger suppliers ceased to trade in August following a trend of tough market conditions for smaller participants. However, switches from the Big Six to challenger brands continues to be the most prominent switching type and is also the only switching type in August 2019 that increased compared to figures from the previous month. 205,000 customers moved to challengers from the Big Six, the same number as in August 2018, but 19,000 or 10.8% more than July 2019. All other switch types (Big Six to Big Six; challenger to Big Six; challenger to challenger) decreased from July 2019.
In early August, Ofgem announced that price caps would fall even lower this winter due to recent lows in wholesale energy costs. We are eager to see whether this affects switching rates in the coming months as consumers on standard variable tariffs see a drop in their energy bills.
The above figures relate to electricity switching in Great Britain only.
Switches started refers to the number of valid switches started, also known as switches raised.
All data is provided by ElectraLink’s Energy Market Insights (EMI)
ElectraLink has been granted the governance protections to hold, transfer and analyse switching and other data.