Consumer Energy Report: A Turning Tide
Our 2017 annual evaluation of the UK energy market finds that changes in the consumer energy market are slow coming. However, for the first time an independent has taken the place of one of the ‘Big 6’ in the Energy Brand Strength Index, and other trends suggest†an overhaul of the market in the years to come.
Ovo has achieved fifth place in the Brand Strength Index,†up two places from last year,††having gained greater prominence (55% of consumers are now aware of the brand), while maintaining a strong connection to its customers.
Other key conclusions
- One in four consumers are likely to switch from their current provider this year- 10% more than just two years ago. This provides a significant opportunity for smaller independent providers, such as Ovo, that are ranking particularly high for customer service (averaging 79%) satisfied.
- As with previous years, providers with more renewable offerings are seen as more distinguishable
- An increased focus on renewables shows a public who think the issues are important, but are reluctant to pay for it
- Public attitudes to the three significant projects- Tidal Lagoon, Hinckley Point C and fracking- suggest that current energy policy is not aligned with public attitudes.
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