Switching energy tariffs now faster than ever before
Switching energy supplier could save many people up to 300 pounds or more per year, and now, the government has revealed that the whole process has become quicker than ever before.
In fact, according to information released by the Department of Energy & Climate Change, new processes are now in place to get households switching in half the time, so people can benefit from increased competition and trimmer bills sooner this New Year.
The DECC argues that energy companies have cut the time it takes to switch between suppliers to 17 days, down from 5 weeks last year. Coupled with the price cuts announced by multiple suppliers over the past couple of days, this is one of the best moments to switch to a different tariff and start saving.
Additionally, smaller independent suppliers have confirmed that they are on track to introduce faster switching in 2015 as well. The new changes mean that suppliers don’t have to wait for the 14 day cooling off period before they begin the switching process. Instead the process begins on day one when a customer decides to switch, while statutory rights are protected so switchers can still cancel at any time within those 14 days.
Secretary of State for Energy and Climate Change Ed Davey commented:
“We’ve introduced more competition in the energy market and made it much quicker for people to switch energy supplier.
“Industry is delivering on my challenge so now my challenge is for more consumers to take advantage. There’s never been a better time to shop around, switch and save money faster than ever before.
“The job is not done for energy suppliers. They must offer 24 hour switching for consumers as quickly as possible.”