2021 has seen 14 domestic supply market exits to date, including the most recent three companies to use the Supplier of Last Resort (SoLR) process on Wednesday 29 September 2021: Igloo Energy (0.59% market share), Symbio Energy (0.04% market share) and ENSTROGA (0.09% market share). In September alone, nine suppliers exited, with 1.72mn customers impacted (6.0% of the market).
As Figure 1 illustrates, these exits have resulted in an increased market share for the large supplier group, rising from 68.5% at the end of July 2021 to 70.8%, the highest collective share for the large suppliers in almost two years. The medium suppliers saw a net reduction in share, falling 2.2pp to 26.1% held by 11 suppliers (down from 13 in July) despite SoLR roles for Shell Energy and Octopus Energy. The small supplier group saw a decrease in market share by 0.9pp to 2.3%. Over this time period, eight small suppliers have left the market, bringing the total number in this group to 21.
In total, the number of fully licensed competitors in the domestic supply market has fallen to 37, down from 50 in September 2020.
For more detailed analysis on supply market consolidation, look out for our Energy Spectrum Perspective on Monday (4 October).