Energy and climate change secretary Ed Davey has confirmed his desire to reduce the time it takes to switch energy suppliers from a “completely ludicrous” five weeks to an “ambitious” 24 hours. His comments came during the announcement of this year’s Annual Energy Statement on 31 October.
Faster switching without higher cost
Davey said consumers needed to be put “in control” of their bills and his speech outlined a package of measures that would “force” greater competition among energy suppliers. Davey recognised achieving 24 hour switching would not immediately be possible, but he assured companies would not be allowed to increase charges to consumers to cover the costs associated with speeding up the process. Davey urged all suppliers to meet with him so an agreement and a delivery plan can be reached.