Ofgem has instructed energy suppliers to speed up consumer switching times to five days or face fines starting 1st April.
This decision aims to help consumers switch providers more quickly and easily.
If the switch takes longer than five working days, the customer can receive £30 compensation.
This decision follows consultations and has garnered support from charities and consumer groups.
Melissa Giordano, Deputy Director for Retail Systems and Processes at Ofgem, said: “Customers who see better energy deals on the market or experience poor service must be able to vote with their feet and move energy supplier – quickly.
“As regulator, we have already slashed the amount of time within which suppliers must switch a customer by two-thirds to just five working days. We are now going further by requiring any supplier who misses that deadline to pay the affected customer £30.
“We are already seeing switching levels up from last year, and now, this new move – welcomed by leading charities – will further empower customers to take control of their energy bills this winter and beyond.”
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