The number of customers switching their gas or electricity supply in the second quarter of 2020 fell to the lowest level for more than two years, the latest statistics from Ofgem have shown.
The figures, published by the Department for Business, Energy & Industrial Strategy and based on returns to the regulator, show 2.3 million switches between 1 April and 30 June 2020. Of these 1.3 million were in electricity and 983,000 in gas. The last time activity was lower than this point was in Q1 2018.
In Q2, the number of switches in electricity was down 13.1 per cent year-on-year while gas saw a slump of 20.7 per cent on the same period in 2019.
During the quarter, 4.6 per cent of the total customer base in the electricity market switched with the figure at 4.1 per cent for gas. These statistics are based on households so do not reflect customers who switched more than once during the period.
Earlier this month, Electralink, which monitors electricity switching, expressed surprise that figures dropped back in August after recovering from a slump during the Covid-19 lockdown.
Figures released by Energy UK, which also restricts its monitoring to electricity, showed 471,441 customers switched supplier last month.
This was a dip of 17 per cent year-on-year, however chief executive Emma Pinchbeck said this was understandable given the general upheaval in society and stressed “it’s encouraging to see that around half a million customers are still switching every month”.