Summer energy switching on the rise
We’re welcoming news that over half a million customers switched their electricity supplier last month, according to Energy UK. The figures, which include both domestic and non-domestic customers, show that switching is up 10% on July 2018, and the majority of switches (34%) were from larger to small and mid-tier suppliers.
Over 3.5 million customers have moved to a new supplier so far in 2019, 10% up on the same time last year when a record 5.8 million – or one in five – customers switched supplier.
Lawrence Slade, chief executive at Energy UK, said: “It is positive to see switching figures increase last month, despite the record breaking heatwave and dip in customers switching supplier in June. We hope that in the coming months, customers continue to seek out the best energy deals from the 60 different suppliers on the market.”
A strategy for energy purchasing
In the face of rising non-commodity costs (set to increase by around 8-10% year on year), the figures show that more and more businesses are choosing to take control of their energy costs.
It’s clear to see why when you consider the financial gains: a good procurement strategy can save businesses between 5-15% on their energy bills, depending on the risk management approach. For a business spending £250,000 a year on energy, that’s a potential saving of over £37,000 – which can be re-invested into other areas. When coupled with an energy efficiency programme that reduces overall consumption, companies have a winning strategy to drive down costs and stay competitive.
The Energy Advice Hub is powered by BiU, the UK’s leading energy and utility management consultancy. Get in touch with our procurement specialists for advice on developing a bespoke energy purchasing strategy.