12 switches every minute in 2019
Posted by Anna Carlini on 21 February 2020 at 12:06 pm
Here at YouGen we are very heartened by UK Energy’s latest report that more people switched energy supplier in 2019 than ever before. It states that a record-breaking 6.4 million households made the switch from their energy supplier over the last year. As we are always advocating to shop around when you come to the end of a fixed term tariff, we are very happy to see these soaring figures.
April 2019 saw the highest number of switches in one month, setting a new record with 668,000 people switching to a new provider. Overall 12 households switched energy tariff every minute in 2019.
The figures show that there remains a steady stream of households moving away from the Big Six and opting to switch to small or medium suppliers. These smaller companies saw a net gain of 1.5 millions customers over the year. However, the rate of people moving to smaller companies did slow over 2019 in comparison to 2018, with some consumers bucking the trend and moving back from smaller suppliers to larger ones.
This may not come as a big surprise to smaller suppliers, as this report comes amidst a turbulent time for energy companies. Five small supplies went bust in 2019, and so these figures demonstrate the impact this has had on the public's confdence in smaller providers.
Ultimately, we are encouraged to see the surge in households switching energy providers as this means more people are becoming savvy with their energy and protecting themselves from over paying on their bills. Switching is still the best way to save money and so it is really good to hear than more people than ever before are taking advantage of the opportunity to change energy provider.
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