The latest electricity switching figures from Energy UK show a 19% year-on-year drop for November but Energy UK has said it appears “this downward trend has now stabilised”.
There were a total of 112,816 switches in November, compared to 152,571 in October and 139,070 last November. They remain far from the height of switching – in November 2020 there were 490,460 “change of supply events”.
However, the trade body pointed out that the figures were now less volatile and stressed that figures are now likely to remain low while energy prices continue to be high.
To date, 2022 has seen around 1.2 million switches, compared to 5.8 million in the whole of 2021 and just under 6 million the year before.
In November 2022, of all switches:
- 26% were from larger to small and mid-tier suppliers
- 14%were from small and mid-tier to larger suppliers
- 54%were between larger suppliers
- 6% were between small and mid-tier suppliers