Energy switching snapshots
Energy switching snapshots
Our monthly Energy Snapshot is designed to give you the low-down on great energy deals that we’ve found for our customers, as well as showing the average savings you could potentially make if you were to switch today.
April 2020 Energy Snapshot
There’s so much in the press these days about the cost of gas and electricity that it’s easy to feel bewildered when it comes to choosing an energy deal that’s right for you. We want to help you with some straightforward, easy-to-understand information, so here’s our Energy Snapshot for April 2020.
It includes facts about how much our customers saved when they switched, who they switched from and who they switched to, as well as the most popular tariffs that we offered last month at Compare the Market.
This isn’t a matter of opinion like much of what you read, this is the low-down based on the actual experiences of our customers.Download infographic
Average savings based on usage information entered by Compare the Market customers during April 2020. Achievable savings can vary among customers depending on individual household usage.
113 energy tariffs set to end in May
The cheapest energy tariffs tend to be fixed-term, fixed-rate deals. Customers with these deals need to be aware of their tariff’s end-date, so that they can look for another great deal to take its place and avoid being rolled on to the often more expensive standard or default tariff.
Our snapshot lists the 113 energy tariffs that end in May 2020, so if yours is on the list, now’s the time to look for a new deal that could save you money.
While we know that some of you can be put off switching energy providers, many of you have already discovered that it can be worth it and have benefited from some amazing energy deals.
So what kind of savings can be made with these switches? Some of the figures might surprise you.
Customers who switched with us in April 2020 to GOTO Energy’s In Control Green Apr 2021 V2 tariff made an average saving of £514. The next highest saving was with EDF Energy, their Simply Online 1 Year Fix May21v2 tariff saved customers, on average, £501.
The Big Six
April saw the Big Six suppliers continue to lead customer switching habits. This maintains the strong performance over the last few months, but the margin has closed slightly compared to March. 18.64% of energy switches in April were joining the Big Six, while only 11.06% of customers switched away to smaller suppliers.
E.ON were the main winners of April. While not as dominant as their March performance, they still saw the largest share of 25.96% of switches. This compares to second place Scottish Power, who are much closer this month, with a 21.29% share.
E.ON’s continued strong performance is perhaps slightly surprising, given they weren’t offering any of the five highest-saving tariffs on the market, yet they still had two of the top five most popular tariffs. Meanwhile, Scottish Power second-place performance can be largely put down to their Super Saver April 2021 B6 tariff, the most popular offer by some way, making up 21.26% of switches.
After three consecutive months of having three of the top five highest-saving tariffs on the market, EDF Energy went one step further in April, by offering four of the five highest saving tariffs. However, despite these consistently high-saving tariffs, EDF Energy struggles to come out on top with switch share.
Great deals can be found right across the energy market, so it’s always a good idea to compare all types of supplier to find one that meets your needs.
Head of Energy,
Compare the Market
“The Big Six continue to attract the majority of customers switching energy supplier, with over 80% of all switches through our platform over the last month directed to one of these firms. Energy giant E.ON swept up over a quarter of switches in April. Two of E.ON’s fixed-rate tariffs were among the top five most popular tariffs in the month, with each tariff providing an average saving of more than £250 per year.
“The COVID-19 crisis continues to put a strain on household personal finances and has driven up energy usage by an average of 37%. For households worried about the cost of their energy bill, the average customer who switched supplier in April saved £323.61– highlighting that it pays to shop around online for the most competitive deals.”
So how can you find these amazing deals? We’ve made it simple. You can compare energy tariffs here to find a great deal.
So, what are you waiting for? If you’ve been with your energy company for more than a year, you can almost certainly save money. Why not compare today and see if you could be part of the savings we report in next month’s snapshot.