Increasingly, British consumers are changing energy providers to secure more cost effective deals. Verastar reports on new data, which suggests that switching rates continued to climb in June 2016.
Record heights
Statistics released by Energy UK, a British industry body, show that a record 3.8m consumers changed energy providers throughout 2015. However, a new record could be set by the close of this year. Nearly two million people switched energy providers during the first five months of 2016, with over 350,000 deciding to take this step in May alone.
Climbing figures
Industry portal Utility Week reports that according to Energy UK’s latest figures, 360,000 consumers changed energy companies in June 2016, a slight increase on May. Switching figures have now eclipsed the two million mark. Nearly one million more consumers decided to change energy suppliers in the first six months of 2016, than throughout the corresponding period of 2015.
Further data released by Energy UK suggests that June 2016 was an extremely successful month for small and mid-tier energy companies. Throughout this month, 120,115 consumers transitioned to small and mid-tier supplies, accounting for a third (33%) of all switches in June.
Shopping around
Commenting on these figures, Energy UK Chief Executive Lawrence Slade said: “It is great to see more and more customers shopping around over the summer months before winter hits. Over two million people have already switched supplier in 2016 and they have taken advantage of the fantastic deals offered by more than 40 suppliers.”
Continuing, Slade noted: “Since June 2014 the cheapest tariffs have fallen by over £200. There are now around 50 deals under £900 on offer. The new Energy Switch Guarantee – launched by the industry last month – has made it even easier for customers to switch.” Industry advice site USwitch explains that this Guarantee is a list of ten commitments, which providers can voluntarily join in order to “protect households throughout their switch — from sign up to billing.”
Find specialist suppliers
With these figures, it is increasingly clear that consumers recognise that by switching to smaller energy providers, they can find more cost effective service. This can prove especially advantageous for small businesses, as switching to a specialist commercial energy supplier can allow them to receive bespoke service, while providing them with the means to reduce operating costs. Kinex, a brand which operates under the Verastar umbrella, supplies the outstanding energy services small companies require.
Verastar
Verastar is a leading provider of essential business services to micro SMEs, operating under the following brands: kinex, Clear Business Water, Titan Telecom, Marble Telecom, Economy Gas and 118777 Limited. Our business model is focused on providing a spectrum of consolidated services that disrupt traditional markets and create great savings, efficiencies and value for our customers.
