Global Switching Trends 2007-2008 - New Free Report
New Release: World Energy Retail Market Ranking Report 2008- Activity continues to grow globally, but price caps are killing competition in Europe
Vaasa, Finland – October 23, 2008 – VaasaETT today announced that the latest ranking of energy retail markets worldwide has been revealed in the fourth edition of the World Energy Retail Market Ranking report, published by the VaasaETT Utility Customer Switching Research Project, supported by Peace CIS (www.peace.com) and Capgemini (www.capgemini.com).
Key Findings:
According to the research, the Australian state of Victoria is the hottest energy retail market in the world for the second consecutive year. The South Australia market took second place, pushing Great Britain to third. The other deregulated Australian markets of New South Wales and Queensland make 5th and 7th place respectively. In the United States, Texas continues to be the only market displaying switching levels in the top 10 markets worldwide while in Europe, Great Britain, Wallonia in Belgium, Norway and Sweden round out the top 10 markets. Germany, for the first time since it liberalized, became active and is now catching approaching a level of activity similar to that in the Nordic region.
The fourth edition report also revealed that successful utility retail competition is being sustained in markets around the world, and typically accelerated, but of the 13 European markets opening to full competition in 2007, only one reached an active level of customer switching between suppliers. Average European switching rates were less than 4% compared with 13% for the rest of the world. The research suggests that price caps and other forms of price regulation remain a major hindrance to competition in much of Europe, killing off competition before it can start. The report suggests however, that the economic downturn is expected to increase competition levels substantially in 2009.
About the Project
The Utility Customer Switching Research Project monitors customer switch rates and trends in over 50 fully competitive deregulated energy retail markets worldwide and has provided the first and only comprehensive global view of utility customer switching activity.
For more information about the Utility Customer Switching Research Project, or to request a copy of the World Energy Retail Market Rankings repot please visit www.utility-customer-switching.com.
October 23rd, 2008