ElectraLink reviews the end of the ‘Year of switching resurgence’ElectraLink reviews the end of the ‘Year of switching resurgence’

Latest data from ElectraLink shows that the year of energy supplier "switching resurgence" ended with a 86% year-on-year (YoY) uplift in December 2023.

According to energy market data hub operator, December 2023 saw 201,000 changes of supplier (CoS) in Britain, which although significantly higher than December the previous year, represented a 16% decrease from the preceding November.

This is also roughly a 25% decrease from the record levels of switches experienced in October 2023, which saw 269,000 CoS.

ElectraLink attributed the lower switching volumes to a lower energy price cap for standard variable tariffs and "overall better wholesale market prices" brining bills down. Fixed tariff options also remain limited, compared to the "era of peak switching" from 2019 to 2020 added ElectraLink.

Britain's switching behaviour saw levels remain high for large supplier switching between larged legacy brands, with other switching types decreasing - especially Other-to-Large which almost halved compared to November 2023.

Data: ElectraLink.

"Although voluntary switching activity nearly doubled year-on-year, it is only up to a similar level as 2014," added ElectraLink.

"Involuntary switching consisting of supplier of last resort, system migrations and trade sales between suppliers is back up to 2020 levels."