When switching energy companies the energy suppliers, as part of their Supplier’s Licence Conditions, have to switch a customer’s electricity or gas supply within 5 working days.
The current Guaranteed Standards of Performance, requires suppliers to pay a customer switching to them a one-off sum of £30 if they fail to complete their switch within 15 working days.
Ofgem has announced a decision, following its consultation, to amend the Standards of Performance to bring them into alignment with the Supplier Licence Conditions. The decision shortens the current timeline to five working days to complete the switch time, or compensation is due.
The changes will take effect on 1 April 2024.
What does this mean for me? If you decide to change supplier and the switch over is not completed within five working days, you will receive a one-off £30 compensation payment
Further details can be found at Supplier Guaranteed Standard of Performance: switch speed decision | Ofgem
