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Independent energy suppliers becoming more popular with households

It seems the bad press over the Big Six and their overpriced energy has had an effect on domestic customers. Independent energy suppliers now hold 10% of the market share as households start jumping ship.

Independents collectively hold a share of more than 10% in nine of the 14 regions, and record the third highest energy share in three regions.

Small suppliers have started to thrive as they offer more competitive tariffs and innovative products with a strong focus on customer service. Previous suspicion from consumers over emerging companies is dissipating as reputations are built.

Bad news for the Big Six then who have been in the firing line recently for poor customer service, billing issues and the ever prevalent expensive tariffs. They still seem to have the advantage of offering dual fuel though keeping many customers with this offer.

They just need to be careful about penalising loyal customers for rolling after their contracts have expired and charging exorbitant out-of-contract rates. Consumers are getting wiser and with growing attention being drawn to the energy market, the big suppliers will continue to lose customers.

A huge opportunity in our opinion for the Big Six to turn it around. Simply offer customers competitive tariffs at the end of their term, keep their custom and their loyalty.

While acquisition has become a price war, it’s retention that the suppliers need to focus on. Churn rates are up to 50% with customers signing up to a one year fixed deal then jumping to the cheapest supplier the next year.

Finally, the energy market has become just that.

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