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.
December 2019 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 December 2019.
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 December 2019. Achievable savings can vary among customers depending on individual household usage.
97 energy tariffs set to end in January
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 97 energy tariffs that end in January 2019, 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 December 2019 to EDF Energy’s Simply Online 1 Year Fix Dec 20v3, made an average saving of £414. The next highest saving was also with EDF Energy, their Simply Online 1 Year Fix Dec 20v4 saved customers, on average, £370.
The Big Six
December saw strong performance once again, with greater switching to, rather than from, the Big Six. This is a trend which has continued from the last couple of months. Nearly 20% of customers switched to Big Six suppliers, while only 12% moved away.
This could be in connection to the collapse of eight small and medium sized suppliers during 2019, with customers perhaps questioning their faith in smaller suppliers, and switching to bigger suppliers they believe will be safer. Breeze Energy was the eighth supplier to close in 2019 alone. Ofgem has reassured customers that safety measures are in place for those affected, with supplies for those with Breeze Energy uninterrupted, as they transition across to British Gas under the regulator’s safety net process.
EDF Energy had a strong December, offering three of the five highest saving tariffs, based on our customer data, as well as having three of the top five most popular tariffs. This saw EDF Energy receive the joint-highest number of new customers in December.
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, comparethemarket.com
“The Big Six have dominated the number of switches during the past three months, making the most of lower wholesale prices to offer competitive tariffs for customers. EDF and E.ON were clear winners in attracting almost three fifths of all CtM switches during December. The two suppliers also offered some of the best savings available, with customers switching to EDF’s Simply Online 1 Year Fix DecV3 and E.ON’s Fix Online Exclusive v19, saving on average £414 and £334 on their energy bills respectively. As temperatures begin to drop and people crank up the heating, a simple way of cutting down costs this winter is to switch energy provider, rather than being rolled on to a supplier’s more expensive default or standard variable rate tariff.”
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.