Consumers “more likely” to move to new entrants than big six, survey finds

Only 24 per cent of consumers say they would be likely to switch to one of the big six energy suppliers, a survey by Ernst & Young has revealed.

In contrast, 37 per cent of consumers intending to switch would choose to move to an independent energy supplier.

The survey of 2,000 consumers found consistently high numbers of consumers throughout the UK have either switched energy supplier, or are considering doing so.

24 per cent have switched supplier in the last year and this trend is likely to continue, with 22 per cent saying they will “probably” switch in the coming year.

Tony Ward, head of power and utilities at Ernst & Young, pointed out that, while levels of awareness are “still relatively low” among energy consumers, the situation is “certainly improving”.

He put this down to the increased focus on living costs, and industry and government led campaigns which have made shopping around to get a better deal an “increasing priority”.

78 per cent of consumers highlighted price as a key deciding factor in choosing a new supplier.

Ward suggested “forward-looking providers need to take positive action to empower customers and consider what services they can develop to address the needs of the budget conscious consumer”.