Energy switching times could have by the end of the year, Government reveals
The UK’s energy suppliers are committed to slashing switching times by 50 per cent by the end of the year in a bid to help consumers choose the tariff that best suites their needs and cut their overall energy-related spending. This will reduce the time it takes to switch energy supplier from five weeks to around two and a half weeks.
Energy UK, energy companies and relevant industry bodies have now completed the work on proposals to modify electricity and gas codes which will allow faster switching.
Energy and Climate Change Secretary Ed Davey said: “I’m pleased the industry has responded to my challenge and will now cut in half the time it takes to switch energy supplier. Delivering this by the end of this year is a challenge in itself but with the technical code changes with Ofgem for final approval, firms now have the time to change their IT systems and I’m reassured they can manage the remaining practical issues.
“While it’s great news we are making energy switching twice as fast, my long term ambition remains to get to 24 hour switching. Our ambitious programme to roll out 53 million smart meters by the end of this decade can unlock this and next month Ofgem will consult on the most effective and quickest ways to introduce next day switching.”
Switching hub changes are expected in November, with the industry on track to start offering customers faster switching by the end of 2014.
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