Energy supplier switching in Britain has remained among historical lows in June as high gas and oil prices around the world exacerbate costs for households and businesses.
96,000 changes of supplier (CoS) completed last month – five percent more than the record low set the month before but 78 percent less than June 2021. Our analysts predicted 93,000 switches would complete in June based on the number of MPANs that started the switching process in May.
The latest monthly total means that 612,000 CoS took place in the first half of 2022, compared to just shy of three million CoS in the same time period last year.
After a few suppliers began offering relatively more attractive fixed price deals in June, 128,000 CoS started last month. This is six percent more than May, but still low compared to the 586,000 CoS started in June 2021.
Based on analysis of current switches in the pipeline, our analysts predict approximately 94,000 CoS will complete in July. However, with the introduction of the Central Switching Service (CSS) as of 18 July, forecasting switching activity will no longer be possible from August onwards based on ElectraLink data.
In terms of CoS types in June, all increased compared to the month before except for switches to Other suppliers from large Legacy brands.
- Large to Large switches reached 49,000 – 13 percent more than May 2022 and 52 percent of June 2022’s total CoS completed,
- Large to Other switches reached 21,000 – 19 percent less than May 2022 and 22 percent of June 2022’s total CoS completed,
- Other to Large switches landed at 15,000 – 12 percent more than May 2022 and 16 percent of June 2022’s total CoS completed,
- And Other to Other switches hit 10,000 – 22 percent more than May 2022 and 10 percent of June 2022’s total CoS completed.
For more information on CoS figures, or to find out how your organisation can access the CoS data we hold and provide for the energy market, contact [email protected].
The above figures relate to electricity CoS in Great Britain only.
We do not include CoS from 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 switching data solution, SwitchTrack.
ElectraLink has been granted the governance protections to hold, transfer and analyse CoS and other data.