Electricity switching hits record high in April

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Energy supplier switching in April 2024 reached its highest level since October 2021, with 287,000 switches completed.

This marks a 28% increase from March 2024 and a 45% increase from April 2023.

The rise in switching was expected as many business contracts expired, leading to moves to new fixed tariffs.

Domestic switching also exceeded 200,000 for only the second time since late 2021, driven by the availability of more fixed tariffs for households, allowing them to lock in per unit prices for 12 months or longer.

Since the beginning of the year, there have been 933,000 switches compared to 641,000 in the same period in 2023, according to Electralink.

All types of switching increased in April compared to the previous month.

Notably, other-other switches more than doubled and large suppliers saw significant gains from small and medium suppliers.

Copyright © 2024 Energy Live News LtdELN

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