Electricity and gas switching activity fell to a 20-year low

Electricity and gas transfers were down by 85% and 86% respectively, according to a report

Big Zero Report 2022

The energy crisis has taken its toll on energy switching activity.

Official data shows there were an estimated 201,000 electricity transfers and 129,000 gas transfers in the second quarter of the year, down by 85% for electricity and 86% for gas, compared to the same period last year.

According to the Department for Business, Energy and Industrial Strategy (BEIS), there were an estimated 201,000 electricity transfers and 129,000 gas transfers from April to June.

The large drop in transfers follows increases in wholesale gas prices and other market shocks which meant the variable tariffs being offered were increasingly charged closer to or at the Ofgem price cap level and fixed tariffs, where available, were offered above the cap.

The BEIS report suggests the second lowest point of energy switching of the last twenty years was recorded in the first quarter of 2022 when electricity transfers were 225,000 and gas transfers 158,000.

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