The largest energy suppliers in Britain made net gains in customers last month despite changes of supplier (CoS) decreasing from the month before.
There were 239,000 switches completed last month – an 11 percent dip from October 2023 when the anticipated wave of business energy contract expiries pushed CoS to the highest level since 2021.
However, November 2023’s total was still more than double the figure recorded in November the year before.
There have been 2.12mn CoS so far this year compared to 1.19mn in the same period last year.
In terms of switching types, only Other-to-Large supplier switches increased compared to the previous month while the rest of the categories fell back in CoS volumes. ElectraLink analysts posit that this occurred due to Large suppliers’ timebound marketing campaigns and offers.
Large-to-Large CoS captured a larger share of switching activity compared to the previous month due to the immediate decrease in businesses switching between Other suppliers.
- Large to Large switches reached 128,000 – three percent less than October 2023 and 53 percent of November 2023’s total CoS completed,
- Large to Other switches totalled 42,000 – 22 percent less than October 2023 and 17 percent of November 2023’s total CoS completed,
- Other to Large switches reached 55,000 – 23 percent more than October 2023 and 23 percent of November 2023’s total CoS completed,
- And Other to Other switches landed at 15,000 – 61 percent less than October 2023 and six percent of November 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.
ElectraLink has been granted the governance protections to hold, transfer and analyse CoS and other data.