Energy switching activity in August dived by almost 20%, one of the lowest levels this year.
That’s according to a new report by ElectraLink, which estimates around 400,000 switches took place last month.
These figures made the month the lowest August since 2016 and the second-lowest month of the year so far.
Last month’s switches bring the year’s number of switches to 3.8 million, nearly 100,000 less than the same eight-month period in 2020.
ElectraLink’s analysts also suggest the increase in the price cap does not yet appear to have forced consumers to change energy suppliers.