Energy MarketsFinanceGenerationStorageTop Stories

Energy price cap change sparks 85% surge in switching

Nearly 213,000 changes of supplier were recorded in July, marking the highest level since October 2021

A recent adjustment in the price cap has prompted an impressive 85% surge in energy supplier switching.

Last month witnessed over 213,000 supplier (CoS) changes, marking a notable 24% increase from June 2023 and a remarkable 85% rise from July 2022.

This surge in switching is the first instance of monthly switches surpassing 200,000 since a decline in late 2021.

Experts note that households are capitalising on the altered price dynamics to explore better energy deals.

In 2023, energy supplier switching has showcased remarkable momentum.

So far, 1.2 million changes of supplier have been recorded, a considerable increase from the 729,000 switches during the same period last year, according to the latest report by ElectraLink.

Related Posts