Switching between Large energy suppliers has reached a 30-month high and the highest level since switching virtually disappeared in late 2021.

There were 135,000 Large-to-Large changes of supplier (CoS) in March 2024, outpacing the 132,000 CoS in October last year – the previous recent high for this switch type.

Large suppliers have grown their customer bases considerably after many Supplier of Last Resort (SoLR) events, acquisitions and a potential fall in consumer trust in smaller brands after dozens of supplier exits in 2021.

In terms of all switch types:

  • Large to Large switches reached 135,000 – six percent more than February 2024 and 60 percent of March 2024’s total CoS completed,
  • Large to Other switches totalled 49,000 – the same as February 2024 and 22 percent of March 2024’s total CoS completed,
  • Other to Large switches reached 29,000 – nine percent more than February 2024 and 13 percent of March 2024’s total CoS completed,
  • And Other to Other switches landed at 11,000 – five percent less than February 2024 and five percent of March 2024’s total CoS completed.

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

Overall switching in March 2024 reached 224,000 CoS – 28 percent more than the same month last year and four percent more than February.

CoS activity tends to increase in March and April every year as fixed tariffs end and Ofgem’s price caps change.

There have been 647,000 switches so far this year.

Chart showing monthly energy supplier switching levels in GB until March 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.