UK Energy Industry Market Report 2024
£ 1,495 (Excl.Tax)
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£ 1,495 (Excl.Tax)
This report examines the UK Energy Industry, predominantly covering the residential energy supply market. Featuring expert energy market analysis, consumer insights, competitive landscape, and more, this report provides the vital details you need to innovate and secure growth in an increasingly challenging market.
Soaring wholesale energy costs have effectively halted competition in the retail energy market, as suppliers pulled fixed deals from the market and set their default tariffs close to the price cap or the government’s Energy Price Guarantee. In 2023, a number of energy suppliers have started to relaunch fixed deals. However, most of these tariffs offer little savings compared to the variable standard tariffs, which most people are on. With limited incentives for customers to switch suppliers, the return of competition to the market is expected to be slow.
While wholesale costs have fallen, prices are still higher than pre-energy crisis levels and wholesale market risks remain. Energy suppliers need to continue to actively support customers struggling to pay bills, while at the same time ensure their own financial stability. Energy suppliers also need to invest in their product and service offering to strengthen their position.
Suppliers will continue to diversify and strengthen their offerings in the growing low carbon technologies sector, including EV charging/tariffs, heat pumps, solar PV and smart home devices. With the roll-out of Market-wide Half-Hourly Settlement, expected in 2026, combined with the widespread adoption of smart meters, suppliers will be encouraged to launch more innovative smart tariffs and services.
Purchase Mintel’s full UK energy industry report for a complete analysis of the market, including market structure, company profiles of the market leaders, and what UK consumers want and why.
This report, written by Claudia Preedy, a leading analyst in the energy industry, delivers in-depth commentary and analysis to highlight current trends in the UK energy market and add expert context to the numbers.
While fixed-rate energy deals have started to come back onto the market, incentives to switch suppliers remain limited. Thus, the return of competition to the retail market is expected to be slow.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.