Majority of UK consumers have switched their gas and/or electricity accounts within the last five years, with significant numbers using online comparison sites to help
Recent research by YouGov has found that just over seven in ten consumers have switched their gas and/or electricity accounts in the last five years. Almost half have done so within the last two years, while around two thirds have done this in the last two to five years.
- 72% of UK consumers have switched their gas and/or electricity accounts in the last five years
- 46% have done so within the last two years
- While 64% have done so in the last two to five years
Research indicates that price comparison websites are a key tool in the switching process.
- 41% of consumers, who have switched gas and/or electricity suppliers in the last 5 years, mentioned price comparison websites as influencing their choice to switch
- Compared to just over a quarter (26%) who made up their own mind without websites
In addition, over half (58%) agree that these sites are ‘very helpful’, with almost half of respondents (46%) having used one in the last two years.
Uswitch.com is the most popular website, with 59% of consumers, who have used price comparison websites to look at gas and/or electricity suppliers in the last 2 years, having visited the site, closely followed by moneysupermarket.com at 44%. A significant number of consumers also mention moneysavingexpert.com (22%), gocompare.com (21%) and confused.com (18%).
The majority of consumers who have switched suppliers are satisfied (55%), mainly because it has lowered their bills (36%), but a significant number (19%) mention that they are satisfied because their new company is easier to deal with than the previous one.
Commenting on the findings YouGov SixthSense Research Director James McCoy said,
“Switching has become a characteristic of the utilities market. It is evident that switching is often not a long-lasting decision and consumers are then won over by a competitor.
"With price a key driver for consumers switching provider, it is unsurprising that price comparison websites emerge as by far the most popular influence on consumers’ decision making.”
For more information please the YouGov press office via email or call us on +44(0)20 7012 6015.