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HomeRenewablesElectralinkSME energy switching hits new record

SME energy switching hits new record

In October, small and medium-sized enterprises (SMEs) set a new record for changing their energy suppliers, with 269,000 switches completed.

This marks a 79% increase from the previous year and is the highest monthly total since late 2021.

This trend happens annually as businesses renegotiate their energy contracts.

Last year, there was a 59% increase in switching during October.

ElectraLink analysts noted a slight decrease in domestic switches between September and October 2023, possibly due to lower standard variable tariffs after a recent Ofgem price cap adjustment.

Switching increased across all categories, with “Other to other” switches almost tripling between September and October.

Large to large switches reached 132,000, a 7% increase from September, making up 49% of October’s total.

Large to other switches totalled 54,000, an 8% increase, comprising 20% of October’s total.

Energy Live News
Energy Live Newshttps://www.energylivenews.com
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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