In our monitoring of the retail energy market for gas and electricity, we collect and analyse a vast range of data. Our retail market indicators give a snapshot of this monitoring. They draw from a comprehensive framework which underpins our ongoing monitoring, including our annual update on the retail energy markets in Great Britain. You can view these updates in the related publications section below.
Our interactive retail market indicators
Select from the below to view the indicators in detail and for an overview of our monitoring themes.
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Retail highlights September 2020
Prices and Profits
As of 28 August 2020, the average price of SVTs from the six largest suppliers for a typical dual fuel customer paying by direct debit was £1,125, unchanged from the previous month, and close to the current default tariff cap (£1,127). At the beginning of August we published the new cap level for the winter period, down to £1,042. This will come into effect on 1 October. Many suppliers have already announced new prices to comply with the new tariff cap level and will be covered in future updates.
The cheapest tariff basket from the ten cheapest suppliers in July 2020 was priced at £806, down £6 compared to the previous month. As a result, the differential between the average price of SVTs for the six largest suppliers and the cheapest tariff basket increased from £313 to £318.
See Prices and Profits.
In July 2020, the number of switches grew by 15% compared to June 2020. In electricity it rose from 461,611 to 537,480, and in gas rose from 342,908 to 389,906. Compared to July 2019, switches were down by 3% for gas, but up by 10% in electricity.
For the 12 months up to July 2020, there were 5.9 million switches in electricity, and 4.6 million in gas. This is up 1% for electricity, and down 5% for gas, compared to the 12 months up to June 2019.
In July 2020, the proportion of net gains in switching away from the six largest suppliers made up 38% of total switches for gas and electricity combined, up from 18% in July 2019.
Prices and profits
We look at trends in external switching (between suppliers) and internal switching (with the same supplier) to understand levels of consumer engagement. We also look at average switching times, an indicator of process quality.
Methodology and sources
We have selected this range of indicators to support general understanding of the market, including how they contribute to the key priorities outlined in our strategic narrative. We also aim to provide a picture of the market where it is not produced elsewhere, or where there is scope for us to set a clear methodology for the data.
Our data comes from sources that are either publicly available, provided by third parties or from responses to Ofgem information requests. Specific sources and relevant dates are listed with each indicator. We are grateful to third parties for allowing us to reproduce their data.
Most of these indicators will be updated quarterly while still allowing access to historic information. Updates will depend on the availability of data for an indicator.
We will review the indicators periodically to ensure they continue to help promote transparency and understanding of the retail energy market and as additional sources of information become available.
These market indicators and data are not intended for use or to be relied on for any commercial purposes. View copyright and disclaimer