Almost 1.6m people switched energy suppliers in Q1 2020
According to Energy UK, 589,297 switched energy supplier in March 2020 – a decline of 4.3% vs last year. For the entire quarter, there was growth in the number of energy switches at around 9.9% or +143,748 YoY when looking at the first three months versus the previous years.
Due to the first 2 months of the year, Q1 switching numbers were boosted in 2020 overall versus the previous years, with Q1′ 2020 seeing a total of 1.6m switches (9.9% growth vs LY):
Switches up by +143,748 (9.9%) – Q1 ’20 vs Q1′ 19
Month by Month – Trended from 2018 – 2020
May 2019 was a strong month in terms of switches. However, with the calls to switch energy suppliers from April by Martin Lewis and others off the back of wholesale energy prices, it’s likely the number of switches in April and potentially in May 2020 will be at a significant level as consumers deploy savings measures due to disruptions caused by the coronavirus.
Over the years – switching numbers
The full year numbers over the years show significant growth in switching numbers with 2019 seeing growth of 8.7%.
With growth of 9.9% in the first 3 months of 2020, the switching numbers are up versus last year in terms of percentage growth.
Energy UK Statement:
“While switching can be a way to save money, the best way to save money in the longer term is through energy efficiency.Audrey Gallacher, Energy UK’s interim chief executive
So, while we are managing the challenges thrown at us from the current lock down, I’d encourage people to consider whether they could be saving money by being more energy efficient.
Simple measures such as switching lightbulbs, reducing energy use or doing some minor adjustments around the home, like draught proofing doors and windows, can help save you money off your bill and help the environment at the same time.”
Whilst the advice from Energy UK is right — that you should look for energy saving efficiencies, there are savings still to be had by switching energy suppliers.
According to our partner, Energy Helpline, 10% of their customers were able to achieve an average annual saving of £460. There are still likely cost efficiencies, if you are able to find time to switch – so take a look today – 5 minutes of work could save you a significant enough amount on your energy bills:
Total Switches from January 2018 to March 2020:
|Month Year||Total Switches|