
Lack of competition in the Northern Ireland energy market could cost households over £82m each year, according to our new research...
Only 28% of consumers (around 221,200 households) have switched their supplier in the past 12 months, in comparison to a UK national average of 38%. Estimates suggest that switching could be worth up to £145 per household annually, amounting to millions in unclaimed savings across the region as a whole.
Our research report also showed that almost two-thirds (65%) of consumers said they would switch if prices increased significantly. However, options in this space are extremely limited; currently there are only five domestic electricity and two gas suppliers in the market, compared to around 40 in England, Wales and Scotland.
Inevitably, wider choice in the UK mainland market does make switching far more profitable for customers, with average savings of around £300 and this may be why switching is more prevalent. However, with an estimated £145 saving per Northern Ireland household readily available, switching energy supplier is far from a worthless exercise.
Our research follows news of the impending 15% price hike from Click Energy, set to come into play from 1st December, and increases from other suppliers in recent months.
In part, there’s a problem of competition – or lack thereof. Whilst fewer options can lead to an easier supplier decision, in reality it is costing people dear, and when energy suppliers raise their prices, consumers may feel they have little choice but to comply. Nonetheless, with many consumers feeling the pinch, there are some savings out there to be made.
“However, our research shows a clear consumer appetite for switching, and there is a huge opportunity for start-up energy suppliers to enter and disrupt the market in Northern Ireland, as has been the case elsewhere.”
Jim White, head of operations, Echo Northern Ireland Ltd
Suggested Further Reading
Knowledge Centre: Research
Retaining Customers in a World of Choice
Knowledge Centre: News
Electric Ireland appoints Echo for customer field engagement
Knowledge Centre: News
Echo and Northern Ireland Water win prestigious award
More in the Knowledge centre
More News
Echo team helps South Staffordshire Plc raise £9,000 for local food banks this winter
Almost £3,000 has been raised by the Group’s employees and the donation has been tripled to £9,000 by the business,…
Water companies must build a stronger, more memorable and relevant brand to appeal to their latest generation of customers
New research reveals that Generation Z has low brand awareness when it comes to who supplies the water in their…
Echo supports digital transformation at Dŵr Cymru Welsh Water
Transformation project leads to 33% increase in digital transactions for the most common, high-volume customer contact types...
Coliban Water embraces new Aptumo billing software to benefit customers
Coliban Water, one of Victoria’s larger regional urban water corporations, has successfully transitioned its billing and customer support software to…
More Cross Service
Echo team helps South Staffordshire Plc raise £9,000 for local food banks this winter
Almost £3,000 has been raised by the Group’s employees and the donation has been tripled to £9,000 by the business,…
Affordability remains the top priority for the next generation of bill payers
Whilst Gen Z has a widely documented interest in the environment, when it comes to water and sewerage services, our…
Generation Z: A new wave of water customers
Read our latest UK consumer research report focused on Generation Z, the new wave of water customers, and their attitudes…
Echo holds summer of support event for its teams
For the past six weeks, Echo has been holding a remote summer of support event for its employees across three…