Big Six market share at record low

Big Six market share at record low

Britain’s Big Six energy firms of domestic customers saw the biggest fall in market share during 2017, as smaller rivals became increasingly attractive with cheaper deals, according to energy regulator Ofgem.

An Ofgem report has shown the six largest energy suppliers’’ market share was 79% for electricity and 78% for gas in December 2017, down from 84% in both sectors from the year before.

The Big Six have come under increasing pressure following new legislation that will allow energy regulator Ofgem to put a price cap on standard variable tariffs (STVs).

In 2017, 5.1 million consumers switch electricity suppliers and 4.1 million moved to another gas supplier – the highest level in almost ten years, a third of which moved away from a Big Six firm to a smaller provider.

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