Fail to prepare, prepare to fail – domestic switching rate dips

The Energy Retail Market Strategy for the 2020s places consumer engagement as a key focus in the short term through to the late 2020s. To increase competition and engagement, current proposals include the introduction of an opt-in switching scheme and trialling opt-out switching to ‘nudge’ consumers and suppliers towards more competitive or low-carbon products.

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Home supply and services

Domestic switching falls as the savings gap is squeezed

With day-ahead gas reaching an all-time high of 187.50p/th as of 15 September, it has been a record-breaking summer for wholesale energy prices. This Chart of the Week explores the impact these high prices are having on domestic tariffs and consumer switching behaviour.

Home supply and services

900,000 domestic customers impacted by SoLR over last two years

Across 2020 and 2019, 887,000 domestic customers were supplied by a company which exited the market via the Supplier of Last Resort mechanism (SoLR). On average, this is around 1.7% of the market per year. In 2018, 551,000 domestic customers were supplied by a company which entered the Supplier of...

Home supply and services

Chart of the week | SoLR process sees largest supplier exit

This January saw the largest supplier exit through Ofgem’s Supplier of Last Resort (SoLR) process. Green Network Energy ceased to trade on 27 January, with Ofgem appointing EDF Energy as SoLR for its 360,000 domestic customers shortly after. On the same day, the regulator announced the exit of Simplicity Energy,...

Home supply and services

Chart of the week | Take on me: market share impacts of domestic supplier trade sales

This week, we look at the market share impacts of recent mergers and acquisitions among domestic energy suppliers. Over the last year, the headline changes saw incumbent suppliers, npower and SSE, exit the domestic supply market with customers going to E.ON UK and Ovo Energy, respectively. The consolidation has resulted...

Regulation and policy

Chart of the week | WHD and ECO thresholds now cover 98% of market

1 April 2020 will see the government’s Warm Home Discount (WHD) and Energy Company Obligation (ECO) scheme thresholds drop from 200,000 to 150,000. This will require all suppliers with more than 150,000 domestic customer accounts to be mandatory participants in these schemes. This week’s Chart of the Week looks at...

Home supply and services

Chart of the week | Better together: consolidation in domestic retail

The last 12 months have been a tumultuous time for the domestic retail market and its energy supply. In particular, the high-profile sale of SSE’s domestic supply business to Ovo Energy has radically altered the market landscape. As well as the transfer of npower customers to E.ON UK. This Chart...

Home supply and services

Chart of the week | Connected technology on the home stretch

The market for connected home devices is set to grow substantially over the next five years. Ownership of connected devices is projected to grow from 20% of households to 40% by 2023, and our research has identified increasing levels of entry and investment from both start-ups and established companies. The...

Home supply and services

Chart of the week | Suppliers adopt winter weighting to reduce debit balances

Typically, 75% of gas demand and 57% of electricity demand is in the winter months. Over the last two to three years we have seen an increase in the number of suppliers implementing a winter weighting to their direct debit payments, whereby they charge customers more for energy over the...