Monday 15 December 2014

Indie energy firms make noise with 10% of market

Indie energy firms make noise with 10% of market

Never mind indie musicians or film makers. Could 2015 be the year of the indie supplier?

Independent energy companies now supply 10% of the dual-fuel energy market, according to new data released by Cornwall Energy today.

It suggests indie firms are slowly but surely stealing business from their large rivals, the Big Six firms.

First Utility holds the biggest share of this, with 3.1% or 675,000 households, gathering 125,000 of those customers over the last three months alone.

Change has been in the air since 2011 when the Big Six had 99% of the residential dual-fuel energy market, dropping to 92% by September 2014.

CEO of First Utility Ian McCaig claimed this is a “positive change” in the industry, as “more and more people” look to independent providers for “far better value”.

Energy Secretary Ed Davey agreed the rise of independent suppliers is a “fantastic success story”.

But he repeated his hope to see them have a 30% market share “by the end of the decade”.

Written by

Bruna Pinhoni

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