Market share of small to medium energy companies growing

Market share of small to medium energy companies growing: The make-up of the retail energy market landscape has changed drastically with new entrants into the market, challenging the status quo of the Big Six. In fact, research from Cornwall Insight’s Domestic Market Share Survey shows the challenger brands now collectively hold 30% of the share of the household energy market up from 18% two years ago.

If this trend continues, Cornwall Insight research shows that in just four years, there could be an almost 50-50 market share split between the incumbent Big Six and the challenger brands. This is shown in the below graph.

Market share of small to medium energy companies growing

Market share of small to medium energy companies growing

Katie Hickford, Analyst at Cornwall Insight, said:

“Small and medium suppliers (SaMS) have grown in recent years, increasing their share of the market by 12% in just two years. Of the 30% they currently hold; 46 small suppliers hold a 5% share of the market and 12 medium suppliers hold one-quarter of the market. With large suppliers now holding 70% of the market.

“The past quarter has seen SaMS growth dominated by a few medium suppliers, in particular, rapid growth by Bulb. In fact, Bulb’s growth set a new record and was the second-highest increase in quarterly energy accounts since the Domestic Market Share Survey began.

“It’s clear to see that the retail market is changing, and if this continues in just four years, the make-up of the market could look very different. While the domestic energy market has seen several new entrants, it has also faced challenges with exits and consolidation, making predictions of the future challenging. However, the future landscape will differ from what we have today and is certainly very different from the one experienced by customers even two years ago.”

Article by Cornwall Insight

, , , , , ,
Previous Post
Collecting Capacity Market payments could prove tricky
Next Post
Energy suppliers adopt winter weighting to reduce debit balances

Related Posts

Businesses promise to make their buildings net zero

Businesses promise to make their buildings net zero: Almost 100 organisations and businesses have agreed to the World Green Building Council’s Net Zero Carbon Buildings Commitment to make all of their buildings net zero by 2030. The tsunami of new members signing up to the scheme has helped to almost double participation in the programme…
Read More

Asda gets hydrogen fuel cell tech from Plug Power

Asda gets hydrogen fuel cell tech from Plug Power: Hydrogen fuel cell solutions provided by Plug Power is coming to Asda to power their lift truck fleet within its supply chain network. Starting at its UK facility in Skelmersdale, it includes a purchase order agreement for the solution, which includes fuel cells, hydrogen fuelling equipment,…
Read More

Subscribe to our newsletter!

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

British Utilities will use the information you provide on this form to be in touch with you and to provide updates and marketing.