Electricity switching shot up 16% between June and July of this year, reaching a monthly total of 545,000.
June 2020 witnessed 470,000 energy switches, but as lockdown began to ease in early July, figures shot up, leading to the highest number of switches completed in the month of July since records began. A total of 545,000 switches is almost 3% higher than July 2019, which was a record in itself.
As the country slowly comes out of stricter lockdown conditions , it seems energy consumers have become more conscious of their utility bills. Switching records have also seen a big shift away from the Big Six, who tend to offer more expensive energy tariffs, with a huge 31% increase.
Subsequently, the number of switch requests to move to one of the Big Six are at their lowest levels for over a year, with only 58,000 of the 545,000 switches being made with one of the major energy suppliers (EDF, E.ON, British Gas, SSE, ScottishPower and npower).
With recent news of the price cap falling come October 2020, we might even see switching figures exceed those of July's, as people begin to realise that despite a lower annual average SVT cost, they could be saving a significant amount more on their energy bills by moving to a fixed tariff.
Source: ElectraLink
