Big 6 predicted to lose 2.75m accounts to smaller energy suppliers
More than a million accounts have been lost in the first half of 2019 alone.
Britain’s Big 6 energy suppliers are looking set to lose 2.75 million customers this year as people are switching to smaller and cheaper companies, research shows.
The Big 6 - which consists of British Gas, SSE, EDF, Eon, Npower and Scottish Power - lost 1.38 million accounts in the first half of 2019. Losses between January and June suggest total losses at the end of the year could add up to 2.75 million.
In 2018, two million customers switched from their Big 6 energy tariff to one with a cheaper supplier, which means 2019 could see a staggering 38% increase in switches.
In 2012, it was predicted that the Big 6 would supply a massive 99% of homes, but now this figure is less than 75%.
Co-founder of Energyhelpline, Mark Todd, said: “The energy market is in a period of rapid transition. The big suppliers, which were once so dominant, are now under constant attack from around 60 smaller suppliers.”
“Expect to see more job losses and restructurings in the years to come – but also more cheap prices and new offers to customers.”
Source: This is Money