London, U.K. — (METERING.COM) — June 19, 2012 – Just over seven in ten (72%) U.K. consumers have switched their gas and/or electricity accounts in the last five years, with almost half (46%) having done so within the last two years and almost two-thirds (64%) in the last two to five years, according to a recent study from YouGov SixthSense.
The study also showed that price comparison websites are a key tool in the switching process, with almost half (41%) of the consumers who have switched suppliers in the last 5 years mentioning these as influencing their choice to switch. In comparison just over a quarter (26%) made up their own mind.
The most popular website was Uswitch.com, cited by 59% of the consumers who had used price comparison sites in the last two years, followed by moneysupermarket.com at 44%.
Further, more than half of the consumers (55%) who had switched suppliers are satisfied, mainly because it has lowered their bills (36%) but with a significant number (19%) mentioning the fact that their new company is easier to deal with.
“Switching has become a characteristic of the utilities market,” commented YouGov SixthSense research director James McCoy. “It is evident that switching is often not a long lasting decision and consumers are then won over by a competitor. With price a key driver, it is unsurprising that price comparison websites emerge as by far the most popular influence on consumers’ decision making.”