Are the big 6 energy suppliers finally being forced to get their act together and start providing a quality service where customers don’t feel they are being ripped off?
First there was the to step to improve the simplicity of tariffs; then the requirement to place customers on the best energy deals; then in the last week Ofgem, the industry regulator has lambasted them for not passing energy price reductions to the customer and finally today, headline news tells us that customers will be able to switch energy supplier within 3 days by the end of the year.
It currently takes about 5 weeks to switch energy supplier so the move to shorten this period is welcomed; after all we can switch our bank account in 7 days so why not our gas and electricity supplier.
Plans revealed confirm that customers will still be given the 2 week cooling off window in case they change their mind, with the 3 day switch taking place after this cancelation period. The news also states that ‘next day’ switching will be scheduled by the end of 2018.
It is disappointing to learn that although gas and electricity prices have rarely left headline news over the last few months, almost two thirds of the UK has yet to switch energy supplier. Given that customers stand to save as much as £200, that could be quite a saving for thousands of households across the country.
If you haven’t taken time to compare energy prices yet, put it on your to do list this week or better still, ‘strike while the iron is hot’ as they say and do it now. I promise you that you’ll be amazed at just how easy it is.
All you need is your postcode, your current payment method, the amount you have spent over the last year and the tariff you are on with your existing supplier.
Accredited comparison websites like ours give you the chance to compare energy prices with all of the UKs residential energy suppliers in one go. Simply choose your preferred gas and electricity supplier (you tend to get better deals if you have both services provided by the same company - dual fuel as it is commonly known) apply and then they do all the work.
Before you start patting yourself on the back for saving money though, just go and read your meters and keep a record of that reading just in case you need it in the future.
Its welcome news that switching energy supplier will take just 3 years by the end of the year but don’t wait until then to save money; after all its money that is better off in your pocket than in the hands of the Big 6; don’t you agree?