The Big Switch should be considered a success, despite just 30,000 people of the 280,000 that signed up being able to take advantage of the deal, says uSwitch.
It was announced that the Co-operative Energy had won the Big Switch auction, with a tariff that is more expensive than that the cheapest tariff already on the market.
uSwitch believe that despite the ‘disappointing end’ to the debut attempt of collective switching, but thinks that consumers should take confidence in knowing that smaller suppliers can offer a cheaper and viable alternative to the big six energy companies that are currently dominating the market.
The uptake from the UK to get involved with the Big Switch was huge, with 280,000 households signing up in order to make the most of the best deal; however, just 30,000 will be able to take part in the deal offered by the Co-operative on a first come first served basis, with more households receiving the EDF Energy Blue+ Price Promise Plan; a tariff that is readily available on the market and has been for weeks.
Ann Robinson, director of consumer policy at uSwitch.com said that the Big Switch was a ‘brave and bold move’ even though the outcome was ‘disappointing’.
“However, this mustn't detract from the fact that the Big Switch has provided a benefit to those who have never switched before - they will be getting a better deal than the one they are on and it has opened their eyes to the benefits of switching”, she added.
The cheapest energy plan on the market is currently priced at £1,027 a year from First:Utility, £21 a year cheaper than the Co-op’s Big Switch offer and £27 a year cheaper than the EDF fall back offer.