Cutting the period of switching suppliers from five weeks to one day, possible?

The Energy supplier First Utility have launched an appeal to cut the time it takes to switch gas and electricity suppliers from five weeks to just one day. The time period in which it takes to switch was a negative factor for consumers and so put them off switching.

First Utility explained that if a third of consumers switched suppliers to a cheaper one, then overall it could save customers £1.5 billion per year. The company has plans to launch a Fix the Switch campaign that aims to cut the time of switching. The company is seeking commitment from the Government and Ofgem to help simplify the process to make it more efficient and more accurate. Therefore they are trying to boost consumers and MPs to sign the petition to carry out the change.

If First Utility gets 100,000 signatures then it will be acknowledged by parliament. The chief executive of First Utility, Ian McCaig said “A quick and easy energy switching process would deliver genuine cost-saving benefits by encouraging more people to benefit from better energy deals.”

To change energy providers it is very simple yet takes a long time, when switching mobile phone providers takes a matter of hours and changing banks is only a week.

Consumer adviser Which? say “people should switch to save, we’ve long called for faster, smoother switching.” Energy prices are constantly on the rise and is a massive concern for consumers, yet as a whole the UK are paying an astounding amount of £3.9 billion a year more than necessary just because they are not on the best deals.

Hopefully the UK will see a change to ensure consumers are getting the best deals possible and cutting costs when available.