British Gas parent company loses 110,000 accounts

21st May 2018

British Gas’s parent company Centrica lost 110,000 energy supply accounts between January and April this year. Last year, the company lost 1.3 million energy accounts.

Centrica said there had been "high levels of competitive intensity", but said the rate at which it has been losing customers had been slowing.

There has been a high number of customers switching energy suppliers in recent months. In February 2018, 660,000 customers switched energy supplier. This is the highest number ever recorded and represents a 60% increase on the figure for February 2017.

Nine in 10 customers were happy with the switching process according to the Energy Switch Guarantee, a service that provides additional consumer confidence in switching.

Jo Causon, CEO of The Institute said: “It comes as little surprise to see such a high volume of customers switching supplier as almost half those we have questioned say they don’t bother complaining when things go wrong because it makes little difference, with the majority favouring a balance of service quality and affordability when it comes to choosing supplier.”

She added: “Given the importance of the UK’s productivity, an investment in customer service could vastly improve the experience of consumers, reduce costly complaints and drive up greater efficiencies. In a sector on the receiving end of animosity from its customers and the media, a clear investment in customer service will be a critical differentiator for that organisation, and our research shows that customers will reward with their loyalty.”

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