Back in 1776 Adam Smith made the observation that England is a Nation of Shopkeepers (although Napoleon usually gets the credit for the phrase). If either were alive today they’d probably reconsider and point out that we’re now a nation of Switchers. Nowhere is that more true than our attitude towards energy suppliers. According to OFGEM, over 76% of us have switched our energy supplier in the last ten years. Around 26% of us do it every year.
For some reason, we love switching. Our favourite TV adverts are for comparison sites. One – the advert for Compare the Market uses a family of animated meerkats which have become so popular they’ve spawned a range of merchandise. Whether it’s insurance, energy, mobile phone plans, broadband or saving plans, we’re addicted. And nowhere more so than with switching energy provider.
It’s not just the websites urging us to do that. Government ministers keep on telling us that to get the best energy price we should switch suppliers. Their message is not to use less energy – just change supplier. And part of their plan for smart metering is to make it even easier to switch – as often as once a day. It’s creating a very interesting dynamic for the industry, but one that is about to change.