Big Six losing out to newcomers

 
Caitlin Morrison
Follow Caitlin
ALMOST a quarter of UK consumers switched gas or electricity supplier in the past year, according to research from EY.

The company found that inaccurate bills were the driver behind this movement, with 39 per cent of the 2,000 consumers surveyed citing errors as the main reason for leaving a supplier. When looking into joining a new company however price was the most important factor for 78 per cent of consumers. Just nine per cent of respondents said customer service was the most important.

New entrants to the energy market are the most popular choice for customers looking for a new supplier, with 37 per cent stating that they were the preferred choice, versus 24 per cent who would move within the “Big Six” firms.

Tony Ward, head of power and utilities at EY, said the energy industry is operating “in a landscape of growing customer expectations and mainly price driven decisions”.

He added: “Concerns about energy costs can increasingly prompt consumers to think seriously about switching suppliers. Forward looking providers need to take positive action to empower customers and consider what services they can develop to address the needs of the budget conscious consumer.”

Related articles