The exits recorded in the energy retail market in the last few weeks seem to have had an impact on energy switching activity, a new report suggests.
ElectraLink estimates that nearly 232,000 switches started last month, which is almost 67% less than in October last year and the fewest in one calendar month since 2012.
The previous lowest month was June 2014 with 240,000 switches started, the report finds.
Analysts also predict that switches completed next month will be the lowest on record.
They note that energy suppliers’ collapses and the limited number of comparative tariffs coming from energy comparison websites because of the energy market crisis have been the main drivers of the fall in the energy switching activity.