Energy switching plummets by almost a quarter in January

Figures suggest there were the fewest switches for January since 2018

Energy switching decreased by almost a quarter in January, compared to the previous month.

That’s according to ElectraLink’s new report, which suggests 377,000 customers changed energy supplier in the first month of the new year.

The analysis shows these are the fewest switches for the month of January since 2018.

Although ElectraLink explains the reasons for this trend are not yet clear, it suggests the last time a drop of this magnitude took place was in January 2017.

With Ofgem’s recent announcement of an increase in the standard variable tariff price cap, analysts expect to see a rise in energy switching activity as customers will try to avoid being moved onto expensive default tariffs.

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