Cornwall Insight and the UK law firm Shoosmiths have published a report on consolidation in the domestic energy market. Over the last five years or so, the market has undergone a period of intense competition. Lower barriers to entry saw a rise in licensed competitors, diversifying propositions, service and added value options for consumers. Today, that number has fallen dramatically as the market has moved into a phase of consolidation.
We’ve seen multiple Supplier of Last Resort (SoLR) events and market exits, HUB energy being the latest one in the past month. With these exits come cost implications for the whole industry due to the socialisation of failed supplier debt, and mergers and acquisitions are also on the rise.
In this podcast, Cornwall Insight’s Lead Research Analysts, Emma Bill and Kate Hill, come together with Tim Jackson-Smith, Partner at UK law firm Shoosmiths LLP to consider the key messages from the report. This includes insights as to what business models are underpinning success among today’s market leaders and how the market might fare for suppliers more generally, be that present suppliers or new entrants.
Download our report on consolidation in the domestic energy market here.