Energy companies launch quicker switching
Customers will now be able to switch suppliers in half the time, says Energy UK. It is now possible to change provider in 17 days, down from five weeks: three days for companies to make the switch and two weeks to protect customers’ legal cooling off rights.
Energy companies large and small, network operators and other stakeholders have worked together to bring about these major industry changes. These new systems allow customers to switch supplier quickly while still giving them the protection and flexibility of a two week cooling off period. This is the latest step in long line of developments the industry has made to improve customer service and competition.
Lawrence Slade, chief executive of Energy UK said:
“This is fantastic news and yet just another example of energy companies taking the initiative and making it easier for customers to engage with their supplier. There are now more companies in the market than ever before, all of whom are fighting hard for new customers. Recently we saw data showing the price of the average tariff is falling. With quicker switching it’ll be easier than ever before for households to take advantage of the deals on offer.”
Switching is the best way for customers to take control of their energy costs. New data shows that the average price of the ten cheapest deals on offer fell by 10 per cent during 2014. 3.1 million customers changed electricity supplier in 2014 and quicker switching will make it even easier for more customers to find the best deal in the future.