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The number of domestic customers switching supplier hit a two-year high in November.
In total, more than 191,000 domestic customers switched supplier along with more than 35,000 non-domestic customers, Energy UK figures reveal.
Overall, twice as many people switched in November compared with the same period last year.
Energy UK’s switching report adds: “After almost two years of suppressed switching figures, we are witnessing a slow and steady rise in the domestic market.”
For November, there was also an increase in the number of people switching from small or mid tier suppliers to a larger supplier.
In total, 46,245 customers made the switch to a bigger supplier – the highest number recorded in the last two years – with just over 30,000 customers moving the other way.
Energy UK’s switching report adds: “In November the net gain by small and mid-tier suppliers within domestic market was -16,013 or -8.1% of all domestic switches, meaning that, bucking recent trends, more customers are moving over from smaller to larger suppliers.”
Prior to the energy crisis, the number of customers switching supplier each month often exceeded 400,000. In June, Energy UK said that “there is no sign the numbers will return to historic levels any time soon”.
It is also a long way off the forecasted possible surge predicted by analysts earlier this year.
The regulator has also said it will remove the market stabilisation (MSC) charge from next March, which is likely to have an impact on how aggressively suppliers are seeking to recruit new customers. This mechanism sees suppliers pay the losing company when they acquire a new customer, but only if wholesale prices fall significantly below the level assumed in the price cap.
Ofgem is still considering whether the ban on acquisition-only tariffs, which was introduced at the same time as the MSC, should also come to an end. It is currently weighing up the trade-offs of the ban on consumer protection and switching activity.
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