Savings required to prompt energy supplier switch 2014 Statistic

This statistic shows the minimum amount of money a consumer would expect to save before deciding to switch to a new energy supplier, in the United Kingdom (UK) in 2014. 13 percent answered they would need to save more than £250 to make the switch, while the median saving required was only £114. Money was not a critical factor for one percent of the respondents.

Minimum level of money consumers expect to save before considering switching their energy supplier in the United Kingdom (UK) 2014

Characteristic	£0	£1 to £99	£100 to £149	£150 to £199	£200 to £249	£250 or more	Don't know
Minimum saving required to switch per annum	1%	17%	22%	4%	14%	13%	20%

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Release date

February 2015

More information

Region

United Kingdom

Survey time period

2014

Number of respondents

6,949 respondents

Age group

18 years and older

Method of interview

Telephone interview

Supplementary notes

Originally asked as: "What would be the minimum amount of money you would have to save to encourage you to switch your Gas/Electricity/Energy supplier?"

Base consists of people who thought it was possible or didn’t know whether it was possible to switch supplier and payment method.

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