95% of energy customers cite 'price' as the main driver for switching suppliers, according to survey

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24th August 2020 11:37 - Utilities

95% of energy customers cite 'price' as the main driver for switching suppliers: A survey of UK households has found that 'price' remains the main reason for switching energy suppliers, followed by 'clarity around costs and charges' (90%), and 'quality of customer service' (84%).

Using findings from a poll of 2,000 UK households, digital product agency, Somo, produced the report, 'The Evolution Of Energy Companies: Satisfying Customers And Society’, which also looked at ways for energy suppliers to offer a better customer experience through the use of digital tools and technology.

It found that 45% of respondents with a smart meter would not change their behaviour at all when it comes to the way they consume energy, while just 23% said having a meter helps them to monitor and understand their energy consumption. 

When it comes to customer interaction, two-fifths (41%) said they used their supplier's website or app to submit meter readings, while a third (33%) 'always' or 'frequently' pay for their energy via their supplier's digital offering. This was even higher when looking at 25-34 year-olds, where payments via a supplier's digital platforms rose to almost two-thirds (65%). 

Just over a fifth of respondents said they 'regularly' or 'always' adjust their direct debit via their supplier's online tools (22%), while 17% said they used their energy company's digital platforms for contacting customer services or making complaints. 

Ross Sleight, chief strategy officer at Somo, said of the findings: “The industry is facing intense competition from new providers unencumbered by legacy systems, processes, and with a mindset that is focused on customer needs. At a time when consumers are even more price sensitive than before, the winners will be brands who provide innovative pricing and service solutions for customers."



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