The latest figures from ElectraLink reveal a sharp slowdown in supplier switching across the energy market in May, with total Change of Supplier (CoS) activity falling to its lowest point this year.
Just 247,000 switches were completed last month – a steep 31% drop from April’s 360,000 and the weakest monthly total recorded in 2025 so far.
The slump signals a significant cooling in consumer and business activity as switching appetite appears to wane.
Industrial and commercial (I&C) customers led the retreat, with switching volumes plummeting by a massive 71% – down from 17,000 in April to just 5,000 in May.
SME switching also took a hit, sliding 59% from 58,000 to 24,000.
Households held up slightly better but still saw a 24% fall, dropping from 285,000 switches in April to 218,000 in May.
While the percentage decline was smaller, May marked the lowest monthly household switching total of the year.
It’s not all rock bottom though. Despite the steep drops, May’s SME and I&C figures weren’t quite the lowest seen in 2025 – both sectors recorded quieter months in March.
Still, the latest slump underscores a wider trend of market inertia.
The figures come as energy bills remain a top concern for businesses and households, yet high levels of engagement seen in recent years continue to fade.
Industry insiders will be watching closely to see whether new tariffs, fixed deals or growing pressure on household budgets spark a resurgence in the months ahead.
