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 2019
Prices and Profits
On 7 August we announced the updated Prepayment meter cap for this winter period, which has fallen by £25 to £1,217. The default tariff cap was also updated for this winter period, and has fallen by £75 to £1,179. Both caps will enter into effect on 1 October 2019.
As of 28 August 2019, the average price of SVTs from the six largest suppliers for a typical dual fuel customer paying by direct debit was £1,254, unchanged from the previous month. The market cheapest tariff in August 2019 remained the same at £846 .
The differential between the average price of SVTs from the six largest suppliers and the market cheapest tariff remained unchanged at £408. The differential relative to the basket of the ten cheapest tariffs decreased from £364 to £361. This was mostly due to SVTs being priced at the level of the cap, whilst suppliers have also released cheaper fixed tariffs due to wholesale costs decreasing.
The weighted average SVT price among the eight largest prepayment suppliers remained unchanged at £1242, at the prepayment cap level, with the differential to the cheapest prepayment tariff remained at £189.
See Prices and Profits.
Switching in early 2019 hit historic highs, with the number of electricity and gas switches reaching a record high in April, before falling off between May and July. However, it was up again in July, reaching 508,060 in electricity and 410,212 in gas, which are historic high values compared to the same month in previous years. The total number of domestic switches in the 12 months up to July 2019 was 10% higher than in the 12 months up to July 2018 for electricity and 7% higher for gas.
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, and consider trends in overall consumer satisfaction with suppliers.
Methodology and sources
We have selected this range of indicators to support general understanding of the market, including how they contribute to the consumer outcomes outlined in our corporate strategy. 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