The UK’s independent energy suppliers, of which Spark is one, now have more than 10% of the market in most of the country – according to new research.
Cornwall Energy, the sector’s leading market intelligence service, has revealed that independents collectively hold a share of more than 10% in nine of the 14 regions – and record the third highest energy share in three regions.
The aggregate share of the independents is now above that of two of the Big Six suppliers on a national basis.
This drive in growth has been sustained over the last 18 months, and Cornwall says “collective and individual shares have risen on the back of competitive tariff offers and innovative products”.
Spark Energy’s CEO Chris Gauld said:
“The independent energy suppliers have had to overcome numerous challenges and work in a market which has always been geared against us. Yet this research by Cornwall, a respected name in the energy industry, shows that there is a real demand in this country for an alternative to the Big Six.
“At Spark we will continue to focus on value and innovation, as shown by our recent launch of the cheapest prepayment meter tariff in the UK aimed at the affordable social housing market. More ground-breaking and imaginative moves will follow. Through the hard work of our employees and substantial investment into the company we are now more able to compete with our larger peers.
“With the right support, there are great opportunities for the smaller independent suppliers to lead the necessary changes in the retail energy market and I hope that the political and regulatory environment can support that cause.
“While there are still a number of obstacles to overcome to make our industry fair and competitive, we are now seeing an air of change in the energy industry. It is a very exciting time for us as a company and we are in the perfect position to ensure we continue to grow while providing our customers with the very best service at competitive rates.”