26th Mar 2018
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.
2017 was a record year for customers switching. A total of 5.5 million people changed their supplier during the year, and this year’s figures follow on from that.
The switching figures show that there is a growing choice in the market, as 130,000 customers switched to small and medium-sized suppliers in February.
Responding to the news, 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.
“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.”