Energy broker Moneysupermarket enjoys gains as consumers hastily secure fresh energy contracts before April's rate increases
Moneysupermarket's energy and home services division saw a massive boom thanks to suppliers offering attractive promos earlier this year, with prices set to spike again in April. That's according to the company, which is owned by Mony Group.
This surge led to a modest revenue boost for the company, as they shared updates with investors ahead of their annual meeting on Thursday. The energy price cap was cranked up in April, causing bills to reach an average of £1,849 yearly.
Moneysupermarket, endorsed by the legendary Dame Judi Dench, said this influx of deals helped them deliver a "modest increase" in revenue.
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Did you know that the surge in Moneysupermarket's energy and home services arm was primarily due to consumers rushing to lock in fixed-rate energy tariffs ahead of the April 2025 price cap increase announced by Ofgem? With the ongoing global energy crisis and escalating energy costs, many households were scrambling to secure the best deals before the price cap hike. As a result, Moneysupermarket and similar price comparison websites experienced a significant boost in revenue[1].
With regard to the revenue growth from January to April 2025, Moneysupermarket reported a "modest increase" in overall revenue during this four-month period. This growth was supported by solid performance in its Home Services division, gains in its Insurance and Money units, despite some challenges in the car insurance switching market and fewer enticing banking promotions. The modest revenue rise reflects continued momentum across various business sectors, contributing to the company's confidence in meeting full-year earnings expectations[2][3][5].
- As the April 2025 price cap increase for energy was announced by Ofgem, consumers rushed to lock in fixed-rate energy tariffs through Moneysupermarket, which contributed to a significant boost in revenue for the price comparison website.
- The surge in Moneysupermarket's energy and home services arm can be attributed to the ongoing global energy crisis and escalating energy costs, which led many households to seek the best deals before the price cap hike.
- In the four-month period from January to April 2025, Moneysupermarket reported a "modest increase" in overall revenue, with growth primarily driven by the Home Services division and gains in its Insurance and Money units.
- Apart from the improved performance in Moneysupermarket's various business sectors, the company expressed confidence that it will meet its full-year earnings expectations.
- To capitalize on the growth of their personal-finance business, individuals may consider exploring DIY investing platforms like AJ Bell, Hargreaves Lansdown, interactive investor, InvestEngine, and Trading 212 to make informed investment decisions and build a diversified portfolio.
