Monday 16 February 2015

Big Six losing out to smaller energy suppliers?

Big Six energy suppliers could be losing out as more consumers are likely to switch to smaller independent companies.

According to a new survey, 37% of energy consumers said they would switch to a new entrant in the market compared to less than a quarter (24%) saying they would switch to one of the Big Six energy companies.

The top reasons that would lead customers to move to a different supplier were inaccurate bills (39%), “unfriendly” phone service (16%) and long complaint processes (12%).

The survey also revealed almost a quarter (24%) of consumers switched energy suppliers in the UK last year.

The news comes the same day the government launched a switching campaign to encourage people to shop around and save up to £200 a year.

Tony Ward, Head of Power & Utilities at EY said: “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.”

Looking ahead, 35% of Londoners are considering moving to a different energy supplier this year, followed by those in the North West, West Midlands (24%) and the South West (23%).

Around 2,000 energy consumers were questioned for the survey.