Energy efficiency is a key component of movement strategy for many species. In fish, optimal swimming speed (Uopt) is the speed at which the mass-specific energetic cost to move a given distance is minimised. However, additional factors may influence an individual's preferred swimming speed (Upref). Activities requiring consistent sensory inputs, such as food finding, may require slower swimming speeds than Uopt. Further, although the majority of fish display some form of social behaviour, the influence of social interactions on Upref remains unclear. It is unlikely that all fish within a group will have the same Upref, and fish may therefore compromise individual Upref to swim with a conspecific. This study measured the Uopt, Upref and Upref in the presence of a conspecific (Upair) of pile perch, Phanerodon vacca, a non-migratory coastal marine generalist. Uopt was significantly higher than, and was not correlated with, Upref. Fish therefore chose to swim at speeds below their energetic optimum, possibly because slower swimming allows for greater awareness of surroundings. Mean Upair was significantly lower than the Upref of the faster fish in each pair but did not differ significantly from the Upref of the slower fish. Therefore, faster fish appear to slow their speed to remain with a slower conspecific. Our study suggests that environmental factors, including social surroundings, may be more important than energetic efficiency for determining swim speed in P. vacca. Further studies of fish species from various habitats will be necessary to elucidate the environmental and energetic factors underpinning Upref.