Record numbers of people are switching to smaller suppliers

switching energy suppliers

Almost half a million people switched electricity suppliers last month, with record numbers making the move away from a large supplier to a smaller independent company.

According to new figures released by Energy UK last week, 222,036 customers switched to a ‘mid-tier’ energy provider during the month of June – the highest number ever.

Breaking records

The number of switchers is up 19% compared to the same month in 2017. So far this year 2.7 million people have switched suppliers, compared to 2.6 million by the same point last year.

A record-breaking 5.5 million electricity customers have made the switch so far in 2018.

Confidence to switch

Research suggests that consumers are feeling more confident than ever when it comes to switching energy suppliers, with 9 out of 10 saying that they are happy with the process according to research from the Energy Switch Guarantee.

price comparison
Greater choice and the rise of price comparison websites have helped boost the number of people switching.

Eversmart have been encouraging consumers for years to walk away from the ‘Big 6’ suppliers and explore the cheaper alternatives out there.

Lawrence Slade, chief executive of Energy UK, seems to agree. He said:

“The record numbers switching to small and mid-tier suppliers show that more and more customers are taking advantage of the ever-growing competition and choice out there.”

“It only takes a few minutes to either check with your own supplier or to look at what’s on offer from nearly 70 competing suppliers in the market. With the Energy Switch Guarantee in place consumers should feel even more confident that switching will be simple, speedy and safe.”

Save up to £400 per year

Eversmart Energy entered the market in 2016 after new Ofgem regulations made it easier for smaller companies to compete with the Big 6.

A typical dual-fuel household can save up to £400 when they switch to us. You can get a quick energy quote here.

Should I switch to a small energy supplier?

Should I switch to a small energy supplier

For a long time the gas & electricity market has been dominated by the so-called ‘Big 6’ energy firms, leaving consumers with a limited number of options when it came to choosing a supplier. Today, there are over 40 energy providers including many smaller – or ‘independent’ – companies who can offer very competitive prices.

But despite the fact they are considerably cheaper, many people are nervous about switching to a lesser-known supplier – but should you be?

What is an independent energy supplier?

Basically, any company that isn’t one of the Big 6 – British Gas, EDF Energy, E.ON, npower, Scottish Power or SSE– is considered as a ‘small’ or ‘independent’ energy company.

Back in 2014, the energy regulator Ofgem announced plans to open up the electricity market and encourage healthier competition between suppliers. These plans included several proposals that would “level the playing field” and make it easier for independent firms to compete with the big boys – such as greater transparency when it comes to wholesale energy prices.

As a result, dozens of new suppliers entered the market, offering lower prices thanks to smaller overheads and freedom from some of the government obligations placed on the Big 6. Eversmart Energy was one of these companies – offering competitive pricing and refreshingly modern customer service through text and social media. We started supplying in 2016, and two years later we’re still going strong and still proudly independent!

Is it safe to switch to a small supplier?

A recent survey from Citizens Advice revealed that 1 in 3 people don’t feel confident switching energy suppliers. Another study from Money Saving Expert asked people what puts them off from switching – the number one answer was being unsure about using an unfamiliar firm.

Money Saving Expert noted on their blog: “While our poll shows many are wary of smaller suppliers, and feedback on new small suppliers is often limited, previous MSE polls suggest some smaller firms can actually offer a better customer experience than their big-name counterparts.”

Ofgem have also attempted to ease concerns about the stability of some smaller suppliers. If an energy company ceases trading, regulations are in place to make sure you are transferred smoothly over to a new supplier.

Whenever you switch energy suppliers, there’s very little hassle and no interruption to your supply. If you do decide to switch to an independent, you could save up to £300 a year!

How do independent companies keep their prices so low?

Eversmart Energy offer a free Smart Meter to every customer – this allows us to reduce operational costs and pass the savings on to you. Like many independents, we’re smaller and more flexible than some of our bigger competitors, with fewer overheads and lower operational costs.

We also understand that people’s lifestyles are changing, along with the way they like to communicate. If you don’t have the time to speak to us over the phone, we’re happy to communicate via text, social media or Facebook messenger – whatever works for you! We like to think we do things the smart way.

How do I make the switch?

Switching energy suppliers is quick, simple and hassle-free. You can get a quote and find out how much you could save here.

A record number of people switched their electricity supplier in February

switching electricity

Over 660,000 people switched electricity suppliers last month, according to industry figures from Energy UK.

This is the highest ever number of people switching in a single month, and represents a 60% increase compared to the same period last year.

2017 also saw the highest number of people switching gas suppliers since 2008, according to the latest figures released by Ofgem.

The unusually cold weather, better informed customers and aggressive advertising by certain energy firms have all been suggested by experts as reasons for the high figures. Around 20% of switches were people moving away from the ‘Big 6’ and opting for a cheaper, independent supplier.

See also: Should I switch to a smaller energy supplier?

“The energy market has never been so competitive, and it’s great to see record numbers of consumers engaging in the market to get a better deal” said chief executive of Energy UK Lawrence Slade.

Customers can save up to £300 per year by switching their gas and electricity to a smaller, more competitive supplier such as Eversmart.