Switching has doubled since 2022, but not to pre-crisis levels

Customer switching rates in the energy market have doubled since 2022, but we're still far from the levels seen pre-energy crisis.

The long-term trend of customers switching away from large legacy suppliers is continuing, with net gains for non-legacy and small suppliers.

Although discounts against SVT are available again, John de Bono's analysis shows these haven't been large enough to drive switching at the levels seen previously.

But the number of customers on active-choice tariffs has increased for the first time since the energy crisis, climbing to ~16%.

Choosing a tariff is complex – How can suppliers provide clarity?

More innovative tariffs being available is adding complexity to customer decisions, and suppliers have opportunities to provide clarity through smart and half-hourly settlements.

We covered these opportunities in more detail here, looking at:

• Why gaps in customer understanding need to be addressed – and it might get worse before it gets better
• The intricacies of making a cost-effective decision in today’s market, comparing available EV tariffs as an example
• How the smart roll-out and Market-wide Half Hourly Settlements could create a clearer future for the market

Read the full article here.

For more information on switching, and how to support customers in making smarter tariff decisions, contact Tom Bromwich.