Competition within non-domestic energy markets on the up
New findings show the non-domestic electricity and gas markets are the most competitive they have ever been.
An independent report commissioned by Energy UK reveals that in recent years the number of active energy companies operating in the unconcentrated markets, and market shares outside the major suppliers, have contributed to an increase in competition.
Nearly 30 companies are actively working to supply gas and electricity to the energy business markets. This is the highest number of suppliers in the business market since 2005 when Cornwall Energy started its market share survey.
At least 80% of gas used by business is from companies other than the largest household suppliers.
Almost 20% of electricity used by business is supplied by companies other than the largest suppliers.
Energy UK’s Angela Knight says:
“The energy industry has become even more competitive, open and transparent in recent times. More companies than ever are claiming their stake – vying for customer business. Independent suppliers have seen a large increase in customers from the business community and are now supplying almost 80% of gas and 20% of electricity to them. These results are a clear indication that competition is working and thriving.”
Gary Stalker, Head of Sales at energyTEAM comments:
“A reputable energy consultant like energyTEAM continuously builds relationships with all the key business electricity and gas suppliers, not just the 'Big Six'. The results of this research highlight the increasingly competitive nature of energy markets and reinforce the importance of working with a third-party. The benefit gained by the end user by working with consultants is that they acquire access to all the energy suppliers, access to strong relationships built over a number of years and ultimately access to innovative and competitive energy contracts.”
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