Almost 3 million switches completed so far in 2021

June saw a five per cent dip in the number of energy supplier switches compared to the same month last year, the latest figures have revealed.

Electralink has released its monthly switching statistics which show that so far in 2021, just shy of 3 million changes of electricity supplier (CoS) have been completed.

Last year saw a total of 6.2 million CoS events – just 2.3 per cent down from a record 6.3 million in 2019.

The figure of 2.996 million switches completed so far this year is 75,000 (three per cent) more than in the first half of 2020, which was dogged by the first wave of the pandemic.

Last month’s figure of 436,000 switches was 34,000 less than June 2020 and the lowest that has been reported for the month since 2017.

Switches started in June decreased slightly year-on-year with 588,000 events raised – six per cent less than June 2020. However, this is up from June totals in all previous years.

In terms of switching types, compared to May this year, last month saw a recovery in numbers for all types bar those from large to other suppliers. This, the company said, was primarily caused by a month-on-month decrease in switches away from large legacy suppliers.

Of all switches in June 2021, those between large suppliers accounted for the most at 211,000 (48 per cent) – 22 per cent more than June 2020. Elsewhere:

• Large to other reached 117,000 – 33 per cent less than June 2020 and 27 per cent of June 2021’s total switches completed.
• Other to large CoS landed at 61,000 – 16 per cent more than June 2020 and 14 per cent of June 2021’s total.
• Other to other hit 48,000 – 23 per cent less than June 2020 and 11 per cent of June 2021’s total.

Electralink’s analysts said that based on current activity, they estimate just over 450,000 completed switches for the month of July, which represents a decrease on the previous two years.