Energy customers remain loyal – but one in four set to switch

Despite concerns about high prices, the majority of Britain’s energy customers will stay loyal to their supplier according to new research from Bacs Payment Schemes Limited (Bacs).

In a survey carried out at the beginning of this year, the organisation behind Direct Debit found that 58% of British people either definitely wouldn’t or were very unlikely to change the energy company they used.

But, while only 4% said they definitely would change, a further one in ten had already voted with their feet, taking their business elsewhere, and another 27% said they were either very or quite likely to switch suppliers.

Michael Chambers, Managing Director of Bacs, said: "British people must feel a great deal of either loyalty or lethargy when it comes to moving away from an existing energy supplier.

"But, whether they plan to switch or not, bill payers concerned about high energy costs should look for the best tariffs available – quite often those paid by Direct Debit will offer a discount, as well as making the bill more manageable by spreading it into monthly payments."

Note: Bacs surveys 3,500 people over the course of the year for its Bacs Family Finance Tracker, with questions asked on a bi-monthly basis to ensure information is as current as possible. The research is carried out by Ipsos MORI.