David Beating Goliath When It Comes to Energy Switching
According to analysis from comparison website Gocompare.com, almost three out of every four (71%) people who switched their energy tariffs over the last two months opted for a small provider, while just over a quarter (29%) chose a big six supplier*.17 May 2014
This follows a price war launched by several smaller providers recently that has seen them offer tariffs that come with attractive, and sometimes sub-£1,000 a year, dual fuel bills.
Jeremy Cryer, energy spokesperson at Gocompare.com, said: “The UK's smaller energy providers have begun to really challenge their larger competitors, resulting in a lot of people signing up to the highly competitive fixed tariffs they have launched in recent weeks.
“This is hardly surprising, especially when some providers have introduced tariffs where people could pay, on average, under £1,000 a year for their gas and electricity. Such low bills are a particularly attractive prospect against a backdrop of recent energy price rises and intervention by the government and the regulator.
“People are getting the message that the gas and electricity they get is largely the same irrespective of what company's logo they see on their bills. All suppliers, large and small, are regulated by Ofgem and as such consumers are protected in the same way no matter who they buy their energy from.
“The main thing when shopping around for energy is to look for the tariff that represents the best value for money, not necessarily who is offering it. But also make sure that your needs will be met in terms of the way you prefer to manage your account, and look for any early exit fees or other charges.”