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Switching energy suppliers : it’s not all about the money
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Deller, David, Giulietti, Monica, Loomes, Graham, Waddams Price, Catherine, Moniche, Anna and Young Jeon, Joo (2021) Switching energy suppliers : it’s not all about the money. The Energy Journal, 42 (3). pp. 95-120. doi:10.5547/01956574.42.3.ddel ISSN 0195-6574.
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Official URL: http://dx.doi.org/10.5547/01956574.42.3.ddel
Abstract
Many consumers do not take advantage of lower energy prices available in liberalized retail markets. We provide evidence to explain why consumers may leave substantial amounts of "money on the table" in this way. We observe real decisions made by over 7,000 consumers in a collective switching auction, supplemented by their responses to a survey. We identify factors which may inhibit switching and show that expectations of high switching rates in an unregulated market may be unrealistic. Our findings have important implications for the design and regulation of energy markets, including imposition of price caps on "default" retail tariffs in 2019 in the UK and parts of Australia.
Item Type: | Journal Article | |||||||||||||||||||||||||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HF Commerce |
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Divisions: | Faculty of Social Sciences > Warwick Business School | |||||||||||||||||||||||||||
Library of Congress Subject Headings (LCSH): | Energy industries, Energy consumption, Cost effectiveness , Energy industries -- Cost effectiveness , Consumers' preferences, Consumer behavior | |||||||||||||||||||||||||||
Journal or Publication Title: | The Energy Journal | |||||||||||||||||||||||||||
Publisher: | International Association for Energy Economics | |||||||||||||||||||||||||||
ISSN: | 0195-6574 | |||||||||||||||||||||||||||
Official Date: | 2021 | |||||||||||||||||||||||||||
Dates: |
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Volume: | 42 | |||||||||||||||||||||||||||
Number: | 3 | |||||||||||||||||||||||||||
Page Range: | pp. 95-120 | |||||||||||||||||||||||||||
DOI: | 10.5547/01956574.42.3.ddel | |||||||||||||||||||||||||||
Status: | Peer Reviewed | |||||||||||||||||||||||||||
Publication Status: | Published | |||||||||||||||||||||||||||
Access rights to Published version: | Restricted or Subscription Access | |||||||||||||||||||||||||||
Date of first compliant deposit: | 29 July 2020 | |||||||||||||||||||||||||||
Date of first compliant Open Access: | 29 July 2020 | |||||||||||||||||||||||||||
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