Helping you make sense of the energy and water sectors

Market research & Insight

Issue 40

Alex Wynn Alex Wynn Analyst

April in Brief Pricing Standard variable tariffs(SVTs) at 30 April continue to be priced higher than prepayment tariffs, following the introduction of the prepayment price cap on 1 April. All large suppliers, as well as several small and medium suppliers (SaMS), have priced their SVTs above their prepayment tariffs For the first time since March 2016, a collective switching tariff has been the market leader. The winning tariff of Money Saving Expert’s Big Switch 7 was £25/year lower than the cheapest tariff on the wider market at 26 April Five more fixed tariffs appeared in April, and nine more variable tariffs were launched. This was in part due to four new entries into the market during April (Igloo Energy, One Select, Zebra Energy and LECCY) At the end of April, First Utility was the only supplier to offer a medium term fix (12-36 months) of the SaMS. Additionally, no small suppliers offered a long fix (36+ months) or fixed prepayment tariff Competition Domestic electricity switching data for March and April marks the first time in which switching levels have remained above 500,000 for two consecutive months, since Energy UK first began producing the report in February 2014. Over the three-year period, the only other month switches reached this level was October 2016 (577,810 switches) SaMS made a net gain of 155,558 electricity accounts in April, accounting for 31% of all switches. This is the highest proportional net gain made by SaMS since April 2016 (33%) IRESA withdrew all tariffs from sale on 11 April and at 17 May had not yet begun ...

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