Big Six energy suppliers could be losing out as more consumers are likely to switch to smaller independent companies.
According to a new survey, 37% of energy consumers said they would switch to a new entrant in the market compared to less than a quarter (24%) saying they would switch to one of the Big Six energy companies.
The top reasons that would lead customers to move to a different supplier were inaccurate bills (39%), “unfriendly” phone service (16%) and long complaint processes (12%).
The survey also revealed almost a quarter (24%) of consumers switched energy suppliers in the UK last year.
The news comes the same day the government launched a switching campaign to encourage people to shop around and save up to £200 a year.
Tony Ward, Head of Power & Utilities at EY said: “The challenge for the industry is to invest in ways to retain the confidence and loyalty of its consumer base through innovative services an enhanced and trouble-free customer experience and empowering customers to feel in control of their energy bill.”
Looking ahead, 35% of Londoners are considering moving to a different energy supplier this year, followed by those in the North West, West Midlands (24%) and the South West (23%).
Around 2,000 energy consumers were questioned for the survey.