For further information,
please contact the
authors below
Tony Ward
Partner, Head of Power and
Utilities for UK&I
EY | Assurance | Tax | Transactions | Advisory
About EY
EY is a global leader in assurance, tax, transaction and
advisory services. The insights and quality services we
deliver help build trust and confidence in the capital
markets and in economies the world over. We develop
outstanding leaders who team to deliver on our
promises to all of our stakeholders. In so doing, we play
a critical role in building a better working world for our
people, for our clients and for our communities.
Partner, Advisory
EY refers to the global organization, and may refer to
one or more, of the member firms of Ernst & Young
Global Limited, each of which is a separate legal entity.
Ernst & Young Global Limited, a UK company limited
by guarantee, does not provide services to clients.
For more information about our organization, please
visit ey.com.
[email protected]
+44 [0]20 7951 4524
© 2015 EYGM Limited.
All Rights Reserved.
[email protected]
+44 [0]12 1535 2921
Yunus Ozler
EYG no. DX0302
ED None
For marketing and media relations
enquiries please contact
Kevin Corcoran
Associate Director for Energy,
Brand Marketing & Communications
[email protected]
Konstantinos Makrygianni
Energy Media Relations Manager
[email protected]
Follow us on Twitter:
@EY_UK_Energy
ey.com/energy
Artwork by JDJ Creative Ltd.
This material has been prepared for general informational purposes only and is
not intended to be relied upon as accounting, tax, or other professional advice.
Please refer to your advisors for specific advice.
Empowering
energy customers
Consumer attitudes towards switching
gas and electricity suppliers
Almost a quarter of consumers
switched gas or electricity
supplier in 2014
Main drivers
behind
switching…
Asked what customer service
elements would most likely cause
them to decide to switch their
energy supplier, 39% of consumers
responded that inaccurate bills would
lead them to take that decision.
Unfriendly service when calling the
helpline (16%) and long complaint
processes (12%) were also among
the top reasons that would trigger a
decision to switch.
New entrants are the
preferred choice for
37% of consumers
that intend to switch
compared to 24% who
would move within
the ‘Big Six’…
Almost a quarter (24%) of UK
consumers have switched gas or
electricity supplier in the last year,
according to the results of our
recent survey.
We surveyed 2,000 consumers to
assess attitudes towards switching
gas and electricity suppliers and to
identify which suppliers they would
consider choosing, and to determine
what would drive this change.
Price was the single most important
factor for consumers to consider, with
78% highlighting price as key.
Our survey also reveals that the trend
is likely to continue in 2015 with 22%
of consumers stating that they are
likely to switch supplier. Of those
consumers that changed supplier in
2014, more than eight in ten (81%)
would consider switching again in the
near future.
New entrants emerge as the
winners from the appetite amongst
consumers to secure a better deal
for their energy supply. 37% of
those consumers thinking about
switching said they would move to a
new entrant. In contrast, less than a
quarter (24%) of consumers would
be likely to switch to one of the ‘Big
6’ energy suppliers (British Gas,
SSE, Npower, EDF Energy, E. ON UK,
Scottish Power).
39%
of consumers
responded that
inaccurate bills
would lead
them to switch
providers
81%
would consider
switching again in
the near future
The survey also reveals that
the trend is likely to continue
in 2015...
New entrants
are the preferred
choice for
Appetite for
switching is
strong across
the UK
37%
of consumers that
intend to switch
providers
22%
24%
of consumers
would move
within the
‘Big Six’
...with 22% of consumers
stating that they are likely to
switch supplier.
24%
New
entrants
emerge as the
winners from the
appetite amongst
consumers to
secure a better
deal for their
energy supply
17%
24%
78%
9%
6%
“The challenge for the
industry is to invest in ways
to retain the confidence and
loyalty of its consumer base
through innovative services,
an enhanced and trouble-free
customer experience and
empowering customers to feel
in control of their energy bill”
Tony Ward
Head of Power & Utilities at EY
The survey found consistently high
numbers of consumers that have
either switched supplier or are
considering doing so across the
whole of the UK.
Consumers in the East Midlands lead
the pack with almost a third (32%)
having switched supplier in the last
year. The North East and East Anglia
(28%) as well as London (24%) also
saw high volumes of consumers
switching to a different energy
supplier. In contrast, Wales scored
the lowest when it comes to switching
with only 17% of consumers changing
supplier last year.
28%
Of those
consumers that
switched in 2014,
Customer service was only considered
the most important factor by 9% of
respondents and brand was chosen
by even fewer (6%).
Taking a closer look at those who
responded that they are thinking
of switching in 2015, 18-24 year
olds would be most likely to
switch to a new entrant, with
over half (57%) choosing this
option. The over 55s
were the least likely to
switch to one of the
32%
‘Big 6’, with just 11%
choosing this option.
The survey also found that
when it comes to choosing a new
supplier price was the single most
important factor for consumers to
consider, with 78% highlighting price
as key. Customer service was only
considered the most important factor
by 9% of respondents and brand was
chosen by even fewer (6%).
Attitudes towards
suppliers vary amongst
age groups
18-24 Year olds
would be most likely to
switch to a new entrant,
with over half (57%)
choosing this option.
57%
Over 55s
were the least likely
to switch to one of the
‘Big 6’, with just 11%
choosing this option.
11%
Looking ahead over 35% of Londoners are considering moving to a different
supplier for their gas and electricity in 2015. Energy consumers in the North West,
West Midlands (24%) and the South West (23%) are the next most likely to change.
If you would like to speak with one of our team regarding our
findings please see contact information on the back page
Almost a quarter of consumers
switched gas or electricity
supplier in 2014
Main drivers
behind
switching…
Asked what customer service
elements would most likely cause
them to decide to switch their
energy supplier, 39% of consumers
responded that inaccurate bills would
lead them to take that decision.
Unfriendly service when calling the
helpline (16%) and long complaint
processes (12%) were also among
the top reasons that would trigger a
decision to switch.
New entrants are the
preferred choice for
37% of consumers
that intend to switch
compared to 24% who
would move within
the ‘Big Six’…
Almost a quarter (24%) of UK
consumers have switched gas or
electricity supplier in the last year,
according to the results of our
recent survey.
We surveyed 2,000 consumers to
assess attitudes towards switching
gas and electricity suppliers and to
identify which suppliers they would
consider choosing, and to determine
what would drive this change.
Price was the single most important
factor for consumers to consider, with
78% highlighting price as key.
Our survey also reveals that the trend
is likely to continue in 2015 with 22%
of consumers stating that they are
likely to switch supplier. Of those
consumers that changed supplier in
2014, more than eight in ten (81%)
would consider switching again in the
near future.
New entrants emerge as the
winners from the appetite amongst
consumers to secure a better deal
for their energy supply. 37% of
those consumers thinking about
switching said they would move to a
new entrant. In contrast, less than a
quarter (24%) of consumers would
be likely to switch to one of the ‘Big
6’ energy suppliers (British Gas,
SSE, Npower, EDF Energy, E. ON UK,
Scottish Power).
39%
of consumers
responded that
inaccurate bills
would lead
them to switch
providers
81%
would consider
switching again in
the near future
The survey also reveals that
the trend is likely to continue
in 2015...
New entrants
are the preferred
choice for
Appetite for
switching is
strong across
the UK
37%
of consumers that
intend to switch
providers
22%
24%
of consumers
would move
within the
‘Big Six’
...with 22% of consumers
stating that they are likely to
switch supplier.
24%
New
entrants
emerge as the
winners from the
appetite amongst
consumers to
secure a better
deal for their
energy supply
17%
24%
78%
9%
6%
“The challenge for the
industry is to invest in ways
to retain the confidence and
loyalty of its consumer base
through innovative services,
an enhanced and trouble-free
customer experience and
empowering customers to feel
in control of their energy bill”
Tony Ward
Head of Power & Utilities at EY
The survey found consistently high
numbers of consumers that have
either switched supplier or are
considering doing so across the
whole of the UK.
Consumers in the East Midlands lead
the pack with almost a third (32%)
having switched supplier in the last
year. The North East and East Anglia
(28%) as well as London (24%) also
saw high volumes of consumers
switching to a different energy
supplier. In contrast, Wales scored
the lowest when it comes to switching
with only 17% of consumers changing
supplier last year.
28%
Of those
consumers that
switched in 2014,
Customer service was only considered
the most important factor by 9% of
respondents and brand was chosen
by even fewer (6%).
Taking a closer look at those who
responded that they are thinking
of switching in 2015, 18-24 year
olds would be most likely to
switch to a new entrant, with
over half (57%) choosing this
option. The over 55s
were the least likely to
switch to one of the
32%
‘Big 6’, with just 11%
choosing this option.
The survey also found that
when it comes to choosing a new
supplier price was the single most
important factor for consumers to
consider, with 78% highlighting price
as key. Customer service was only
considered the most important factor
by 9% of respondents and brand was
chosen by even fewer (6%).
Attitudes towards
suppliers vary amongst
age groups
18-24 Year olds
would be most likely to
switch to a new entrant,
with over half (57%)
choosing this option.
57%
Over 55s
were the least likely
to switch to one of the
‘Big 6’, with just 11%
choosing this option.
11%
Looking ahead over 35% of Londoners are considering moving to a different
supplier for their gas and electricity in 2015. Energy consumers in the North West,
West Midlands (24%) and the South West (23%) are the next most likely to change.
If you would like to speak with one of our team regarding our
findings please see contact information on the back page
For further information,
please contact the
authors below
Tony Ward
Partner, Head of Power and
Utilities for UK&I
EY | Assurance | Tax | Transactions | Advisory
About EY
EY is a global leader in assurance, tax, transaction and
advisory services. The insights and quality services we
deliver help build trust and confidence in the capital
markets and in economies the world over. We develop
outstanding leaders who team to deliver on our
promises to all of our stakeholders. In so doing, we play
a critical role in building a better working world for our
people, for our clients and for our communities.
Partner, Advisory
EY refers to the global organization, and may refer to
one or more, of the member firms of Ernst & Young
Global Limited, each of which is a separate legal entity.
Ernst & Young Global Limited, a UK company limited
by guarantee, does not provide services to clients.
For more information about our organization, please
visit ey.com.
[email protected]
+44 [0]20 7951 4524
© 2015 EYGM Limited.
All Rights Reserved.
[email protected]
+44 [0]12 1535 2921
Yunus Ozler
EYG no. DX0302
ED None
For marketing and media relations
enquiries please contact
Kevin Corcoran
Associate Director for Energy,
Brand Marketing & Communications
[email protected]
Konstantinos Makrygianni
Energy Media Relations Manager
[email protected]
Follow us on Twitter:
@EY_UK_Energy
ey.com/energy
Artwork by JDJ Creative Ltd.
This material has been prepared for general informational purposes only and is
not intended to be relied upon as accounting, tax, or other professional advice.
Please refer to your advisors for specific advice.
Empowering
energy customers
Consumer attitudes towards switching
gas and electricity suppliers