Figures published by UKPower.co.uk suggest that the Big Six energy companies are losing their grip on the UKs energy market, with the prediction that they will control less than 50 per cent of the residential market by 2019.
It is reported that 74 per cent of switchers are opting for the cheaper tariffs on offer from the smaller, less known energy companies such as Ovo Energy and First Utility.
It’s good to see that people are starting to vote with their wallets. The trade association for the energy industry, Energy UK, have stated that over 250,000 customers a month are opting to switch their energy company or tariff, which has led to the major suppliers dropping below a 95% market share for the first time.
I’d like to think the modern day energy customer is far more savvy and aware of the options available to them than they would have been just a few years ago. Hopefully customers are becoming less concerned about the big company names and more about the savings they can make.