Utility Week

UTILITY WEEK | 26TH APRIL - 2ND MAY 2019 | 13 Policy & Regulation Almost seven in ten respondents agreed that the price cap should be a per- manent fixture and that it was necessary to introduce it. Less than a third agreed the initiative had resulted in fairer energy prices for them. The majority of respondents who had switched energy suppliers were switching their energy supply from one of the big six companies – the biggest number of respondents switching from a big six supplier were switching from British Gas. There were no significant differences between price cap and non price cap switcher ATTITUDES TOWARDS THE PRICE CAP ENERGY PRICE CAP AWARENESS ENERGY COMPANIES SWITCHED TO ENERGY COMPANIES SWITCHED FROM RECENT SWITCHING BEHAVIOUR The price cap should stay in place permanently It was necessary to introduce a price cap The energy price cap has resulted in a fairer price for me Strongly disagree Disagree Neither/nor Switching from small suppliers Switching from medium suppliers Switching from the big six Thinking about the price cap, to what exent do you agree with the following statements? (Base: n= 1002) Are you aware that there is an energy price cap in place? (Base: n=1002) Which of the following statements most applies to you? (Base: n=1002) Which company did you switch to? (Total Base: n=293; Non price cap switchers n=224; Price cap switchers n= 69 ) Which company did you switch from? (Total Base: n=293; Non price cap switchers n=224; Price cap switchers n= 69) Agree Strongly agree Don't know Almost seven in ten respondents were aware that there was currently an energy price cap in place – this was significantly higher among males and the over 55s. Over two-fi•hs of respondents did not intend to switch energy supplier in the near future. Those who had switched most recently did not do this because of the price cap. Those who were planning to switch because of the price cap were more likely to be younger. CURRENT ENERGY COMPANY – PLANNED SWITCHERS Which company did you switch from? (Total Base: n=266; Non price cap switchers n=143; Price cap switchers n= 123 ) The majority of respondents who planned to switch energy suppliers were with one of the big six companies. There were no significant differences between price cap and non price cap switchers but price cap switchers were much less likely to be with a small supplier. A sizeable number of respondents were switching their energy supply to a medium sized supplier, followed closely by one of the big six. Among those switching to a medium supplier, Bulb Energy and Ovo Energy were most popular. Price cap switchers were less likely to have switched to a smaller supplier and more likely to have switched to a large supplier, although not significantly so. Non price cap switchers Price cap switchers Non price cap switchers Price cap switchers Non price cap switchers Price cap switchers 18% 19% 23% 17% 59% 64% 9% 14% 17% 29% 39% 68% 18% 33% 35% 8% 7% 33% 12% 12% 19% 67% 31% Net agree 3% 3% 5% 4% Switching to small suppliers Switching to medium suppliers Switching to the big six 22% 12% 41% 42% 37% 46% Non price cap switchers Price cap switchers Non price cap switchers Price cap switchers Non price cap switchers Price cap switchers With small suppliers With medium suppliers With the big six 12% 14% 44% 22% 24% 66% 72% Non price cap switchers Price cap switchers I have not switched recently and don't plan to I am planning to switch supplier soon as a result of the price cap I plan to switch soon but not as a result of the price cap I have switched supplier recently as a result of the price cap I have switched recently but not as a result of the price cap Non price cap switchers Price cap switchers Non price cap switchers Price cap switchers 22% 14% 68% 10% 7% 12% Yes No Not sure 22% *55+ *55+ *18-34 *18-34 *18-34 *55+ *55+ *18-34 *55+

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