Speaking at the trade association’s annual conference yesterday, Angela Knight said that over the last year about three and a half million customers “shopped around” for a new energy supplier, leading to a reduction in their bills.
Knight added that over the last three years, independent suppliers’ market share has grown to a total of 8 per cent, up from 4 per cent three years ago.
Allen Creedy, the Federation of Small Businesses’ environment, water and energy chairman, said the industry was heading in the right direction with consumers. “Enormous changes have been made in the past two years and the relationship between the companies and consumers is improving with the trust element getting better,” he said.
Knight also referred to an EY report – Powering the UK – which stated the energy sector made a “huge” contribution to the UK economy in 2013, worth £96 billion, which is 6 per cent of UK GDP.
“The numbers are impressive. They demonstrate just how important the sector is to the prosperity and stability of the UK economy as a whole, as well as how it delivers an absolutely fundamental service for everyone,” she said.