Switching in electricity market to end-October is up on 2015
Meanwhile, gas switches continue to decline.
Last month, the Commission for Energy Regulation (CER) released its change of supplier report for Q3 2016, which showed that - to end-September - electricity switches were up on 2015, while gas switches were reducing.
Today, the CER released the change of supplier report for October, which shows these trends are continuing.
The electricity market
The average number of electricity switches to end-October 2016 was 26,536 per month, with the highest number of switches occurring in April (29,244 switches in total).
This is down slightly on the average to end-September, but still significantly higher than the average for 2015, which was 25,226.
Currently the average electricity customer could save up to €226, so it’s great to see so many people taking advantage of the competitive market.
The gas market
The average number of gas switches to end-October 2016 so far (January - October) was 7,849, while average switches in 2015 were 8,905.
This indicates the level of switching has decreased in the gas market.
Like the electricity market, there are great savings to be made by switching from standard rates to the cheapest on the market - at the moment, the average customer could save up to €176 by switching.
The overall outlook for switching in 2016
It remains to be seen what the overall switching levels will be at by the end of 2016, however we know that over the last few years, the percentage of people switching remains fairly steady at around 15%.
If you haven’t switched in over a year, the chances are you could save hundreds of euro by doing so - energy suppliers are offering bigger and bigger discounts for new customers so there are definitely savings to be made.
Switching only takes around five minutes using our free, impartial gas and electricity comparison tool, and all suppliers use the same pipes and cables to supply your energy, so there’ll be no loss in service.