According to Ofgem, The number of suppliers entering the market has continued at an increased rate.
Between April 2015 and March 2016, fourteen new licensed suppliers became active in the domestic segment and nine in the non-domestic segment. These new entrants
have a variety of business models such as not-for-profit, renewable and local supply
schemes. The combined market shares of small and medium-sized suppliers in the domestic market also continued to grow by nearly 4 percentage points to 14% in March 2016.
The large suppliers’ financial statements have shown a marked difference in outturns for gas and electricity. Despite the fall in revenues, aggregate pre-tax profits from the supply of gas increased year-on-year, while for electricity they fell significantly. Averaging across the large suppliers, profit margins on both domestic and nondomestic supply have fallen compared to the previous year, although there were big differences between companies. The increase in compeition means supplier companies need to secure thier positions within the search engines to ensure a profitable year ahead.
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