Energy supplier switching for 2021 so far has fallen just short of three million according to data from the Energy Market Data Hub (EMDH). The 2.996 million CoS figure is 75,000 and three percent more than the first half of 2020 which was dogged by the first wave of COVID-19.
CoS in June decreased compared to the previous year. There were 436,000 switches completed which equals a five percent drop compared to the same month last year.
June 2021’s CoS completed figure is the lowest that has been reported for the month of June since 2017. However, June 2020’s figure did increase from June 2019 despite enduring Covid restrictions.
Switches started in June decreased slightly year-on-year with 588,000 events raised – six percent less than June 2020. However, this is up from June totals in all previous years.
The six-month rolling average for June is also within the typical range of between 600,000 and 650,000 CoS started, indicating steady customer interest in finding the best tariffs on the market.
According to ElectraLink analysts, based on current activity, we estimate just over 450,000 completed switches for the month of July, which represents a decrease on the previous two years.
In terms of switching types, compared to May 2021, last month saw a recovery in numbers for all types but switches from large to other suppliers, primarily caused by a month-on-month decrease in CoS away from large legacy suppliers.
However, compared to June last year, switches to large suppliers from all supplier types increased and switches to other suppliers from all supplier types decreased.
- Large to Large CoS reached 211,000 – 22 percent more than June 2020 and 48 percent of June 2021’s total switches completed,
- Large to Other CoS reached 117,000 – 33 percent less than June 2020 and 27 percent of June 2021’s total switches completed,
- Other to Large CoS landed at 61,000 – the 16 more than June 2020 and 14 percent of June 2021’s total switches completed, and
- Other to Other CoS hit 48,000 – 23 percent less than June 2020 and 11 percent of June 2021’s total switches completed.
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NOTES
The above figures relate to electricity CoS in Great Britain only.
We do not include CoS from Supplier of Last Resort (SoLR) processes or trade sales in our monthly CoS reporting. We account for only voluntary switches, or instances where the customer made an active decision and took action to change supplier.
CoS started refers to the number of valid switches started, also known as CoS raised.
All data is provided by ElectraLink’s EMI from the EMDH.
ElectraLink has been granted the governance protections to hold, transfer and analyse CoS and other data.