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    Ofgem has introduced the regulatory project also known as faster switching, which allows energy consumers to switch suppliers easily, and within five working days.

    Here at Utility Bidder, we have updated our internal processes to support these new switching arrangements. If you are looking to compare business energy suppliers, get in touch with our energy experts today.

    For further information on the new process, look at Ofgem’s Switching Programme page.

    Why is the centralised switching programme happening?

    Ofgem wants to provide customers with confidence in the energy market and make a completely centralised switching service. This new process should enable consumers to save on their energy bills, improve service, increase choice, and reduce delays. There will be more competition within the market which will help customers looking to change their gas and electricity contracts.

    Due to the current nature of the market, businesses and home energy customers are seeing massive increases in their energy bills. This new process should help customers avoid expensive “out of contract” rates. It will also reduce the number of switches that fail or should not have been executed due to inadequate quality address data. Find out more about why energy prices are rising here.

    When will the switching service go live?

    The new faster switching process will go live on 18th July 2022. It currently takes around 21 days to change your energy provider which will be massively reduced by this new centralised switching service.

    What are the key dates to be aware of?

    Here are the key dates that customers should be aware of regarding faster switching:

    18th June 2022 Transition period Start date: (30 Days before set live)
    4th July 2022 Last registration SSD before Go live: (14 days before set live)
    12th July 2022 Last Gas New Connection registration: (6 Days before set live)
    13th July 2022 Last Electricity New Connection Registration: (5 Days before set live)
    18th July 2022 Faster Switching set live date
    19th- 22nd July 2022 Industry blackout period
    23rd July 2022 First CSS Faster switching registrations

    Between the 19th and 22nd of July, there will be a blackout period within the industry which means that no one will be able to set contracts live between these dates. However, from the 23rd July, customers will be able to switch their electricity and gas contracts in five working days. Get in touch with a member of the team to find out more information on faster switching.

    How will this centralised switching service impact your business?

    This process will affect all businesses working within the market as they will need to update and be able to accommodate these new switching timeframes. We understand that some customers find switching their energy contracts complex and longwinded, but the new programme should change this.

    The process will allow businesses to switch their energy suppliers in five days as well as save on their energy bills. From 18th July, if your current provider doesn’t object, the following customers will be eligible to change within five days of the contract being agreed upon:

    If your energy supplier wants to object, they only have until 5 pm the day before the contract live date to do so otherwise the customer will be eligible to switch. It is important to note, that consumers on a fixed-term contract will not be eligible to change suppliers until the end of their contract.

    How to find out more information?

    This project will introduce a new completely central switching service for customers switching their gas and electricity.

    For more information, look at the energy regulator Ofgem, faster-switching programme page. Contact us to find out more information on how you can save on your business energy bills.

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