Business gas & electricity market share changed

Business gas & electricity market share changed: The non-domestic gas and electricity market has fundamentally changed according to Cornwall Insight’s Business Gas and Electricity Market share Survey for Q420.

According to the report the number of gas suppliers peaked in April 2019 at 77 suppliers and the collective market share by meters held by non-large suppliers has grown from 17.0% in October 2005 to 56.2%. In the electricity market, the number of suppliers peaked in April 2019 at 73, but the market share of non-large suppliers by meters has grown from 3.6% to 28.2% in the same period.

Simultaneously, the traditional six largest suppliers (British Gas, E.ON UK, EDF Energy, npower, Scottish Power and SSE) have seen their combined market share by meters decrease. Large suppliers’ collective market share by meters has reduced from 82.7% in October 2015 to 71.8% in October 2020. Large suppliers’ collective market share by meters has decreased from 55.8% to 43.8% in the gas market

Molly Lloyd Analyst at Cornwall Insight, said:

“Growth for non-large suppliers has been driven by several factors, including the acquisitions of customers from exiting suppliers (including Yü Group, which acquired around 4,000 business meters off of Bristol Energy in August), competitively priced propositions or engagement with the TPI channels.

“The competitive pressures continue in the business supply market, with five exits from April to December. However, there continues to be interest in the market with two new entrants recorded over the same period.

“Despite market share growth for some suppliers this quarter, it is currently a challenging environment for suppliers due to COVID-19. This is likely to have an enduring effect on suppliers for some time, with some of the full impacts of the pandemic yet to be seen.”

Business gas & electricity market share changed

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