Energy supplier switching in Britain has started dropping after a spike in changes of supplier (CoS) over the summer months.
September 2022 recorded 101,000 switches completed after a summer peak of 123,000 switches in July. September’s figure is 15 percent less than August 2022, and 78 percent less than September 2021 – before CoS events began declining rapidly after dozens of suppliers exited the market.
CoS peaked in July as impending news of the October price cap drove more billpayers to seek fixed tariffs. This was before former Prime Minister Liz Truss announced energy bills support in September.
955,000 switches have completed so far this year, compared to 4.3mn in the first nine months of 2021.
In terms of supplier types, all categories showed a decline in CoS except for Other to Large which recorded a marginal increase compared to August 2022.
- Large to Large switches reached 46,000 – 13 percent less than August 2022 and 46 percent of September 2022’s total CoS completed,
- Large to Other switches reached 28,000 – 21 percent less than August 2022 and 28 percent of September 2022’s total CoS completed,
- Other to Large switches landed at 19,000 – four percent more than August 2022 and 18 percent of September 2022’s total CoS completed,
- And Other to Other switches hit 8,000 – 24 percent less than August 2022 and eight percent of September 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].
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NOTES:
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.
All data is provided by EMPRIS.
Due to the introduction of the Central Switching Service in July 2022, ElectraLink is no longer able to provide data on switches started or forecasts for how many switches will complete.
ElectraLink has been granted the governance protections to hold, transfer and analyse CoS and other data.