Liberalised retail energy markets present an apparent puzzle: when offered the chance to buy a homogeneous product at a lower price, many consumers appear to leave ‘money on the table'. We observe the decisions made by over 7,000 consumers in a collective switching exercise and find that...

This paper describes the evolution of supply competition in the UK residential energy market and the extent to which consumers in general, and vulnerable households in particular, have benefited from liberalization. It concludes that earlier fears about higher prices for vulnerable groups from...