Want to switch energy suppliers? Ofgem is about to make it a whole lot easier

Energy market regulator Ofgem is set to introduce new rules to make switching energy suppliers easier.

The watchdog said that it will make switching supplier more reliable and by the end of this year the process should take as little as three days to achieve.

Ofgem also revealed plans for a switching system that allows consumers to switch suppliers in under 24 hours, due by 2018.

The changes aim to dilute the Big Six firms’ dominance of the energy market.

Ofgem chief executive Dermot Nolan said: “Consumers can change their bank in seven days, their mobile phone in just a couple, but have to wait significantly longer to switch their energy supplier.”

“We know that consumers want a reliable and efficient switching process, and that concerns about it going wrong can put them off shopping around for a better deal. So following the steps we have taken steps to make the market simpler, clearer, fairer, we are now leading a programme which will deliver faster, more reliable switching.”

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