Put the kettle on. Love?
A consumer perspective on the UK energy market
How many of us think about the company our bills go to? It costs around 2.5p to boil a full kettle according to npower, about the same as a tea bag. It?s not big money, but add up all those teas, a fridge, a washing machine, your boiler and the numbers quickly start to rise. The ONS calculates that the average electricity bill is £592 and for gas is £752.2.Access the full report below…Consumers are canny when it comes to supermarket shopping, buying flights, and choosing clothes. We weigh up quality versus cost, we look for deals, and we are drawn to familiar and trusted brands. Do consumers show the same behaviour towards their energy providers?In this report, the first in an annual series, Opinium brings together several strands of recent research into the energy market to provide an overview of the consumer energy market. Unlike tea and coffee, no one could call themselves an energy lover, but what is the consumer attitude to the energy market and the providers involved?Opinium finds that, similarly to the supermarkets, big is not always beautiful.Steve Looney, Research Director, brings his experience of FMCG and retail to bear on the brand equity of the Big Six and the Independents, showing that the more recent entrants to the market are distinguishing themselves against the large incumbents.Our research finds that despite the large sums of money involved in energy, inertia remains. Like our favourite blend, most of us are staying put with what we know, rather than exploring new tastes and a cheaper rate, but that there are some people willing to spice up their brew by bringing down their costs.We also explore who leads the way in customer satisfaction and finds again, that the small players are the ones to watch.Finally, we look at attitudes to renewable fuels and how this can differentiate providers in a crowded market.Access the full report below: