Changes of supplier (CoS) among energy users stayed at a relatively elevated level in May despite seeing a fall from the 18-month high the month before.
There were 154,000 switches completed in May 2023 – 23 percent fewer than April but still 68 percent more than the same month last year.
A drop in switches from April to May was expected as April tends to see higher CoS rates every year due to annual contract expirations, especially among SMEs.
A significant increase in energy supplier changes is expected in the coming months as the new Ofgem default tariff price cap comes into place from July and depending on whether suppliers offer more fixed-rate tariffs for domestic users.
There have been 800,000 switches so far this year compared to 518,000 in the first five months of last year.
In terms of switching types, the largest decline in CoS compared to the previous month occurred between Other suppliers followed by Large to Other switches.
- Large to Large switches reached 87,000 – 14 percent fewer than April 2023 and 57 percent of May 2023’s total CoS completed,
- Large to Other switches totalled 26,000 – 30 percent fewer than April 2023 and 17 percent of May 2023’s total CoS completed,
- Other to Large switches reached 29,000 – 25 percent fewer than April 2023 and 19 percent of May 2023’s total CoS completed,
- And Other to Other switches landed at 11,000 – 47 percent fewer than April 2023 and seven percent of May 2023’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, including after a contract expired.
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 CoS started.
ElectraLink has been granted the governance protections to hold, transfer and analyse CoS and other data.