More than half of consumers report no financial benefit from switching energy suppliers

Switched, but Where’s the Savings?

Think you’ll save a bundle just by waving off your old electric bill? Turns out 58% of folks were let down – the “switch” didn’t really cut costs the way they hoped.

What the Numbers Really Say

5.5 million people fought the energy battle in 2017 – that’s a neat 15% jump from 2016.
Only 1 in 7 adults say they’re switching skeptics. These skeptical souls are convinced that swapping providers for everyday services (think utilities, insurance, broadband) is just a rite of passage, not a real money‑maker.
Just 19% felt any better service from their new provider, and a mere 25% actually enjoyed the switch.

Across the Board

The report also checked other markets: energy, insurance, phone, TV, credit cards, broadband… 34% of Brits regularly switch, but the highest turn‑up was for energy (38%). Credit cards did the least (roughly 1 in 7).

Why People Keep Trying

Money is still the top reason for switching, but many folks expect huge upside. Roughly 17% would only take the leap if it truly mattered – like having time or some urgent trigger.

Echo Managed Services Says…

Chris Cullen, the head of sales and marketing, raves that the findings dovetail neatly with today’s headlines about ever‑growing switch‑rates. “The data underlines the ongoing scepticism that the big price drops you see on comparison sites often fall short when the dust settles.”

“Consumers are being wired by slick advertising that promises big savings, so if the return on switch is slim, it’s no wonder skepticism mounts. Providers, therefore, should double down on excellent service, crystal clear pricing and extra perks to prove that sticking around actually pays off over the long haul.”