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Switching more popular than ever


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Just read this article:

More than 660,000 people in the UK switched energy suppliers in April, the highest number ever recorded.

The number of people switching last month was up 34% compared to March, according to Energy UK, the trade association for the energy industry, with eight in 10 people claiming that they were happy with the switching process.

Over 2m electricity switches have been made so far in 2019, up 18% on the same point last year, with many people choosing to switch following an increase in the energy price cap in April.

Earlier this month, Ofgem, the energy regulator, introduced new rules that require suppliers to pay a minimum £30 in compensation if a customer’s credit balance is not paid to them within 10 working days of switching to a new supplier. They must pay another £30 if the compensation isn’t paid within 10 days from the date the money is owed.
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Best answer by woz 26 May 2019, 18:14

hi Stephen

Under Ofgem’s rules, suppliers must refund these credit balances within 10 working days of a final bill being issued, not within 10 days of switching to a new supplier.

HERE is a link to more information.

extract below:-

"Customers will automatically receive compensation from 1 May if they are not returned to the correct supplier when they are mistakenly switched or if suppliers are late in refunding the credit balances of customers who have switched away.

The new requirements will give customers peace of mind that they will be compensated if something goes wrong.

They should also serve as a wakeup call for suppliers to reduce the number of problems and boost confidence in switching.

Ofgem will separately introduce new requirements for suppliers to pay automatic compensation for delayed switches and providing late final bills later this year.

For switches initiated from 1 May, customers will automatically receive compensation for so-called “erroneous switches”, where they are mistakenly switched to another supplier.

Under the new rules, customers will be entitled to compensation up to a maximum of £120 if their supply is not restored to the correct supplier in a timely fashion. Both the gaining and losing and suppliers are subject to these new guaranteed standards.

Customers will also be entitled to a £30 payment if their previous supplier is late in refunding them their credit balance after they have switched.

Under Ofgem’s rules, suppliers must refund these credit balances within 10 working days of a final bill being issued.

Suppliers are required to pay compensation automatically to the affected customer within 10 days of the breach occurring. If they fail to make the initial payment, they will be required to make a further payment of £30"
stephenrand;30002:
Just read this article:

More than 660,000 people in the UK switched energy suppliers in April, the highest number ever recorded.

The number of people switching last month was up 34% compared to March, according to Energy UK, the trade association for the energy industry, with eight in 10 people claiming that they were happy with the switching process.

Over 2m electricity switches have been made so far in 2019, up 18% on the same point last year, with many people choosing to switch following an increase in the energy price cap in April.

Earlier this month, Ofgem, the energy regulator, introduced new rules that require suppliers to pay a minimum £30 in compensation if a customer’s credit balance is not paid to them within 10 working days of switching to a new supplier. They must pay another £30 if the compensation isn’t paid within 10 days from the date the money is owed.
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6 replies

Userlevel 7
Badge +9
Thats interesting, I wonder how does that fit in with final billing in regard to Ofgem rules.
As in the supplier to take all reasonable steps to send a final bill within six weeks of a customer switching supplier showing anything owed.



Userlevel 7
Badge +10
hi Stephen

Under Ofgem’s rules, suppliers must refund these credit balances within 10 working days of a final bill being issued, not within 10 days of switching to a new supplier.

HERE is a link to more information.

extract below:-

"Customers will automatically receive compensation from 1 May if they are not returned to the correct supplier when they are mistakenly switched or if suppliers are late in refunding the credit balances of customers who have switched away.

The new requirements will give customers peace of mind that they will be compensated if something goes wrong.

They should also serve as a wakeup call for suppliers to reduce the number of problems and boost confidence in switching.

Ofgem will separately introduce new requirements for suppliers to pay automatic compensation for delayed switches and providing late final bills later this year.

For switches initiated from 1 May, customers will automatically receive compensation for so-called “erroneous switches”, where they are mistakenly switched to another supplier.

Under the new rules, customers will be entitled to compensation up to a maximum of £120 if their supply is not restored to the correct supplier in a timely fashion. Both the gaining and losing and suppliers are subject to these new guaranteed standards.

Customers will also be entitled to a £30 payment if their previous supplier is late in refunding them their credit balance after they have switched.

Under Ofgem’s rules, suppliers must refund these credit balances within 10 working days of a final bill being issued.

Suppliers are required to pay compensation automatically to the affected customer within 10 days of the breach occurring. If they fail to make the initial payment, they will be required to make a further payment of £30"
stephenrand;30002:
Just read this article:

More than 660,000 people in the UK switched energy suppliers in April, the highest number ever recorded.

The number of people switching last month was up 34% compared to March, according to Energy UK, the trade association for the energy industry, with eight in 10 people claiming that they were happy with the switching process.

Over 2m electricity switches have been made so far in 2019, up 18% on the same point last year, with many people choosing to switch following an increase in the energy price cap in April.

Earlier this month, Ofgem, the energy regulator, introduced new rules that require suppliers to pay a minimum £30 in compensation if a customer’s credit balance is not paid to them within 10 working days of switching to a new supplier. They must pay another £30 if the compensation isn’t paid within 10 days from the date the money is owed.
Userlevel 7
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Thanks Woz, I'll see if I can inform the author of the article of their error
Stephen
Userlevel 7
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thanks but I wouldn't bother, probably not worth the effort...
stephenrand;30028:
Thanks Woz, I'll see if I can inform the author of the article of their error
Stephen
Userlevel 7
Badge +9
woz;30032:
thanks but I wouldn't bother, probably not worth the effort...


Hi Woz. What do you know, just had this email:

Thank you for your email,

Just to let you know that the article has now been updated. Thank you for pointing this out.

https://money.radiotimes.com/news/record-numbers-of-customers-switch-energy-provider/

Down to you, definitely!
Userlevel 7
Badge +10
haha thanks Stephen, I'd assumed it was a different publication hence my reply. nice to see it corrected, thanks for taking the time.
stephenrand;30251:
Hi Woz. What do you know, just had this email:

Thank you for your email,

Just to let you know that the article has now been updated. Thank you for pointing this out.

https://money.radiotimes.com/news/record-numbers-of-customers-switch-energy-provider/

Down to you, definitely!

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