LONDON (Reuters) – A document variety of British vitality prospects switched provider in February, knowledge from business group Energy UK confirmed on Monday.
* 668,000 prospects switched in the course of the month, the very best month-to-month switching determine recorded, regardless of February being the shortest month of the yr.
* The knowledge comes as Britain’s vitality corporations are beneath stress to scale back payments and as regulator Ofgem prepares to problem a value cap on essentially the most broadly used tariffs.
*It additionally continues final yr’s development when a document 5.5 million prospects switched in 2017 up from four.eight million in 2016, Energy UK mentioned.
*The knowledge doesn’t present precisely which corporations gained or lost prospects however reveals virtually half the switches have been between giant suppliers, whereas virtually 1 / 4 of switches have been from bigger corporations to smaller suppliers.
*There are actually over 60 vitality suppliers in Britain.
*Britain’s large six vitality suppliers, controlling round 80 % of the market are Centrica’s (CNA.L) British Gas, SSE (SSE.L), E.ON (EONGn.DE), EDF Energy (EDF.PA), Innogy’s (IGY.DE) Npower and Iberdrola’s (IBE.MC) Scottish Power.
Reporting By Susanna Twidale, enhancing by David Evans