With rising power prices already impacting operations of many industries, customers’ behaviour in a traumatised energy market seems to be another aspect of the escalating crisis.
The latest report from ElectraLink suggests energy switching dropped to the lowest level since 2012 when the records began.
The data shows that November saw just 131,000 changes of energy supplier – this figure is nearly 75% less than the number recorded in the same month last year.
Switching activity had previously plummeted in October.
ElectraLink estimates that there have been 4.8 million switches completed already this year – that is nearly 13% less than the same period in 2020 and almost 16% less than the eleventh-month period between January and November 2019.