Residentially – Independent Energy Suppliers growing market share

Residentially – Independent Energy Suppliers growing market share

According to Cornwall Energy’s latest market share survey, independent energy suppliers are continuing to rapidly gain customers from the major suppliers. Their collective market share now stands at 11.2% (up from 10.5% in April), which is higher than three of the major suppliers.

The quarter May-July has seen the continuation of bearish commodity prices that has allowed independent suppliers to pass through competitive deals and respond quickly to changes in wholesale prices. As a result, independents have continued to lead the market in terms of offering the very cheapest online fixed tariffs, although there was briefly a notable exception. SSE launched a one year fixed deal in early July, but removed it after just 12 days. The tariff was the cheapest fixed deal on the market, beating competitive offers from newer entrants.

Scottish Power and EDF Energy have both come closer to matching the independents, as their fixed deals have been the most competitive out of the Big Six. These deals will have proved useful attracting customers who otherwise would have rolled onto more expensive standard variable tariffs, from fixed deals which have expired.

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