Member only content free until 26/05/2024

To continue reading this article and enjoying free access to all Utility Week’s content up to the 26/05/2024 Register today!

Ready to become a member?

Become a member

Login Register

Almost half of public ‘unlikely’ to switch in the next year

New data has revealed that 44 per cent of consumers say they are unlikely to switch utilities provider in the next 12 months.

Of the group unlikely to switch, one in five (19 per cent), thought that savings made from switching supplier “aren’t really worth the hassle”.

The YouGov Utilities Tracker Wave 7 also showed that 28 per cent do not believe that switching supplier would trim their energy bills and 19 per cent would need to make savings of over £200 per year in order to change. The report suggested that 32 per cent would switch for £100 or less saving and 25 per cent would need to save between £101 and £200.

A further 17 per cent do not know what amount of money would make them switch and 7 per cent said they would not switch, regardless of the benefit.

YouGov reports head Stephen Harmston said: “While switching is on the increase, at the moment it is being held back because too many consumers think it simply isn’t worth it. The real challenge for utilities providers is to demonstrate that changing supplier gives people a big enough benefit to make it worthwhile.

“Part of the problem is that consumers themselves place high demands on energy companies. Unless providers can demonstrate that they can make big savings, many just aren’t interested.”

The YouGov report also said switchers fell into particular groups with 37 per cent being environmentally conscious. Switchers are also key users of price comparison sites, naming the most commonly used brands as uSwitch, Money Saving Expert, Money Supermarket, Compare the Market and Which?.

The latest figures come after an announcement from Ofgem in August that switching had soared by 30 per cent in the first half of this year, as more than 3.8 million people changed energy supplier.