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Utility Customer Switching Research Project Reveals Latest World Energy Retail Market Rankings
Utility Customer Switching Research Project Reveals Latest World Energy Retail Market Rankings
The Utility Customer Switching Research Project monitors customer switch rates and trends in over 50 fully competitive deregulated energy retail markets worldwide and has provided the first and only comprehensive global view of utility customer switching activity.
Helsinki,
Finland,
Finland
(prbd.net)
18/12/2010
The VaasaETT Global Energy Think-Tank today announced that the latest ranking of energy retail markets worldwide has been revealed in the fifth edition of the World Energy Retail Market Ranking report (the world’s leading source of switching trend data), published by the VaasaETT Utility Customer Switching Research Project.
Selected Key Findings:
- Of the 33 markets followed by the VaasaETT Utility Customer Switching Research project in 2009/2010, nine substantially increased their switching rates, with the global average switching rate for 2009 at 6.12%.
- Australia, and in particular Victoria, led the world in electricity customer switching, increasing to record levels and establishing itself as the example for others to follow.
- For the first time since the start of global electricity market liberalization, Great Britain (still a hot market) was knocked off the top spot in Europe, surprisingly by Ireland, a former laggard in terms of customer switching.
- In 2009, nearly 21% of all electricity customers in the Republic of Ireland switched supplier, 2% more than in Great Britain. Between February 2009 and February 2010, Bord Gáis Energy won nearly 21% of the residential electricity market in Ireland, by far the world’s most successful marketing campaign ever for an electricity retailer, measured in terms of the percentage of residential customers in the market who were won over a 12 month period.
- For the first time Social Media Marketing was shown to be a major trigger and channel for utility customer switching.
- Switching also increased in other medium activity markets, such as Finland and Sweden as well as lower activity markets such as Italy, the Czech Republic, France, Greece, Portugal and Slovenia.
- In Austria, Germany, Belgium (Flanders, Wallonia and Brussels), Norway and the Netherlands, switching trends were at similar or lower levels to 2008, limited in part by reduced price volatility and a generally uneventful market.
- Evidence indicates a general increase in the momentum of switching activity globally. The trend is typically upward.
- Active utility customer switching can no longer be considered an Anglo Saxon or Nordic only phenomenon.
About the Project
The Utility Customer Switching Research Project monitors customer switch rates and trends in over 50 fully competitive deregulated energy retail markets worldwide and has provided the first and only comprehensive global view of utility customer switching activity.
For more information about the Utility Customer Switching Research Project, or to request a free copy of the World Energy Retail Market Rankings report please visit http://www.utility-customer-switching.com
About VaasaETT
The VaasaETT Global Energy Think Tank is a coordinator of expertise for the energy and utilities industry, comprising expert exploration, events and knowledge sharing, supervised by a senior independent advisory committee. Through the thousands of high and medium level executives, officials, researchers, consultants and other experts that we know and trust personally, the Global Energy Think Tank creates partnerships and consortiums for research, strategic advice, solutions and even independent lobbying support. Covering over 50 countries in four continents, our network covers a wide range of interest areas, from Demand Response and Smart Metering to Customer Switching, from Renewable Energy to Smart Grids, from Regulatory Efficiency to Competitive Pricing.
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About
The VaasaETT Global Energy Think Tank® is a coordinator of expertise for the energy and utilities industry, comprising expert exploration, events and knowledge sharing, supervised by a senior independent advisory committee.
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