Independent energy suppliers are shaking up the energy market
Over the past few years, the UK energy market has seen a lot of scrutiny over prices by both the media and the government. In conjunction with this, and perhaps due to this fact, the big six’s market share has also been dropping, hitting a record low of 78% for gas and 78% for electricity back in December 2017.
These companies have continued to come under fire from the government this year too and have had to deal with numerous industry challenges and regulatory changes, which are continuing to give them trouble. As such, while the big six are still the big six, they are no longer as big as they were – their power is being slowly but surely eroded by independent energy suppliers.
Independent energy suppliers have been slowly making inroads into the oligarchic market share that is held by the big six. New entrants into the market, combining more competitive deals and unique selling points often focusing on the environment or sustainability challenges, are increasing the competition in the energy market. This sudden shift can only be good for businesses, especially SMEs.
A change in business mindset
While there is still a reluctance for SMEs to switch energy suppliers, with the time and resources required to find a better deal being one of the main impediments, independent energy firms provide comparison prices to the Energy Action Group to help members make like for like comparisons. By offering specialist deals designed for SMEs and charities, independent energy firms are starting to capitalise on the businesses that the large energy firms have always assumed they will own. This somewhat lax approach to their customer marketing strategy has ended up costing them, and many independent firms have been quick to move in on this.
However, this does not mean that an independent energy supplier will necessarily be able to offer you a better deal, and if you have any queries about finding the best energy supplier for your business, then it is well worth getting a professional company to offer you some assistance.
Touchstone Energy Management Services can help your business make significant savings in your energy bills and help you to improve the way you manage your energy usage. By working closely with their clients, Touchstone quickly establish their customer’s needs and create tailored and bespoke solutions for all of their energy problems. For more information about the services Touchstone offer, contact them here. https://www.touchstoneservices.co.uk/contact-us/.