Almost 5.5 million customers have switched electricity supplier so far in 2020, down by 6.5 per cent compared to this time last year.
Since 2014 the number of switches per year has increased annually, with 2019 being the record year with almost 6.4 million switches in total.
Energy UK’s latest figures reveal there were 490,460 switches last month, 2.5 per cent fewer than November 2019.
Despite Ofgem’s recent decision to axe the term ‘big six’ and place market disruptors Octopus Energy and Bulb in the same category as British Gas, the trade body does not count the pair as ‘large’ suppliers in the same way the regulator does.
Instead, it classifies large suppliers as British Gas, EDF, Eon (including Npower), Ovo (including SSE’s domestic customers) and Scottish Power.
Any switches between the merged parties are considered internal and are not counted. The non-domestic arm of SSE is considered a small and mid-tier supplier.
Of all switches in November:
- 37 per cent were from larger to small and mid-tier suppliers
- 15 per cent were from small and mid-tier to larger suppliers
- 28 per cent were between larger suppliers
- 20 per cent were between small and mid-tier suppliers
Responding to the latest figures Energy UK chief executive Emma Pinchbeck said: “With the Energy White Paper published this week looking at ways of further increasing customer engagement with their energy use, it’s good to see that nearly half a million customers last month actively sought out a good deal.
“And even in a year where people’s attention has understandably been on other issues, nearly 5.5 million customers have switched during 2020.”