May Switching figures
May’s electricity switching figures, published today by Energy UK, show a small fall compared to the previous month – with numbers also remaining low compared to the same time last year.
Last month 92,331 customers switched to a new supplier, a decrease compared to April (130,585) and a 78% fall compared to May 2021. Last month’s figures had been boosted by an increase in non-domestic switches with the end of the financial year signalling the expiry of current deals for many businesses.
Overall, switching numbers have been much reduced since last autumn after record wholesale prices reduced the amount of competitive deals available to customers, resulting in a large number of customers remaining on price capped ‘default’ tariffs as the cheapest option at present.
Matt Cole, the Independent Chair of Energy UK’s Energy Switch Guarantee said:
“Although people are keeping a close eye on when the price of fixed term deals again makes them a viable option for more customers – for now overall numbers remain low in comparison to previous years.
“Even with fewer customers switching, it’s important that they can still do so quickly and easily. Switching – either to another provider or to another deal with your existing supplier – will also play an important role when the market recovers which is why we are looking at how the Energy Switch Guarantee can best continue to support customers in future.”