Share of new customers of basic suppliers doubles, KREUTZER Consulting GmbH, Story

Ten percent of private customers who switched via Verivox decided to take out their new electricity tariff with a basic supplier in the first half of 2024, meaning that the share of new customers from basic suppliers more than doubled compared to the same period last year. In contrast, external basic suppliers were able to win fewer customers, but overall they were the most frequently chosen provider group for electricity tariffs for private customers at 50 percent. The share of new customers from new competitive providers remained constant at 40 percent compared to the same period last year. This is the result of the new Energy Switcher Study 1st Half of 2024 by Kreutzer Consulting and Verivox.

What is particularly noteworthy is that the share of new customers from basic suppliers reached a new high of ten percent in the first half of 2024, a new high since 2017. In addition, it can be observed that significantly fewer consumers switched from basic suppliers compared to the previous year. This share has decreased to 38 percent.

These developments can be attributed to two different factors. Firstly, the migration of customers who fell into basic or replacement supply during the crisis has largely been completed, which means that customer losses for basic suppliers are generally declining. Secondly, due to the high customer losses in the first half of 2023, basic suppliers have increased their customer retention efforts, which are now showing corresponding success.

Therefore, basic utilities should now primarily continue their investments in customer retention and retention and use sales opportunities, where appropriate, to secure the eroding customer base.

About the Wechsler Study Energy

The Energy Switcher Study by Kreutzer Consulting and Verivox provides, based on real switching processes, in-depth insights every six months into the development of switching behavior of private and commercial customers who switch their electricity or gas suppliers via the comparison portal Verivox.

In addition to examining the switchers' previous and target suppliers, the study analyzed demographic factors such as age, gender, and consumption. The study also examines the switchers' tariff preferences, focusing in particular on initial contract periods, price guarantees, bonuses, and green electricity and climate gas tariffs. In addition, an overview of relevant market developments that influence the number of switchers is presented in an understandable manner.

The course for the first semester of 2024 can be ordered here.

Further information on the Energy Switcher Study can be found on our website.