Energy supplier switching in GB has sustained its post-energy crisis recovery for another month.

Over 215,000 changes of supplier (CoS) took place in February 2024 – four percent more than January and 44 percent more than February 2023.

Energy suppliers are bringing to market more fixed and variable tariffs below the Ofgem price cap for April-June 2024. This has the potential to increase switching in the coming months despite the six-month moving average flatlining since November 2023.

There have been 422,000 CoS so far in 2024.

Chart showing monthly energy supplier switching levels in GB until February 2024

In terms of switching types, Large-to-Other supplier CoS had the biggest increase compared to the previous month while switches between Other suppliers decreased the most.

  • Large to Large switches reached 128,000 – three percent more than January 2024 and 60 percent of February 2024’s total CoS completed,
  • Large to Other switches totalled 49,000 – 11 percent more than January 2024 and 21 percent of February 2024’s total CoS completed,
  • Other to Large switches reached 27,000 – two percent more than January 2024 and 13 percent of February 2024’s total CoS completed,
  • And Other to Other switches landed at 12,000 – 10 percent less than January 2024 and six percent of February 2024’s total CoS completed.

Chart showing monthly energy supplier switching levels by supplier type in GB until February 2024

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, 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.