More customers opted to switch energy suppliers in January 2020
Energy switch stats increased by 17% compared to January of last year in a trend that suggests more people are finding it easier to move their energy contracts. In 2019 only 363,417 switched suppliers while 446,750 Customers opted to switch energy suppliers in January 2020.
This growth also saw a large percentage opting to switch to small and mid-tier suppliers. They gained 81,845 new customers which account for 18% of the switches; this shows customers are now beginning to feel more comfortable transferring supply away from larger more familiar suppliers in favour for small to mid-tier suppliers. This culture shift and newfound trust in small and mid-tier suppliers are allowing customers to focus more on the savings and benefits achieved rather than the brand of the supplier.
The Interim Chief Executive of Energy UK, Audrey Gallacher has said, “January has traditionally been a slow month for switching so a figure of nearly 450,000 customers shows that momentum is continuing following a record 2019.
“On average, there were 12 switches every minute last year and it’s encouraging to see more and more customers getting in the habit of saving money by looking for the best deals available from nearly 60 suppliers on the market – not forgetting the many more on top of these figures who have moved to different tariffs with their existing supplier.”
What do you feel is the main factor in the increase of businesses switching providers?