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There are some key updates occurring in the world of energy. Faster Switching is a new process that is fast approaching and requires your understanding to ensure you are compliant.
Yü Energy appreciate this transition period might be confusing, so we have compiled some key dates and answers to any important questions you may have.
So, what’s happening?
Faster Switching is Ofgem’s new regulatory process, designed to enable consumers to switch their suppliers within five working days. This will allow businesses to switch suppliers with much greater confidence, improve reliability and speed for consumers and limit potential error for suppliers- all in a considerably shorter amount of time.
What exactly do I need to know as a broker/TPI?
For the Faster Switching programme, an industry-wide blackout period will occur on 19th– 22nd of July, during the transition period. At this time, no supply start dates (SSD) will be able to occur, with switches being held at the supplier’s end. After this, suppliers will be able to onboard again following the new process. Customers whose contracts are due to end during this time will also be impacted.
What are key dates I need to be aware of?
Here are the dates you need to be aware of for the Faster Switching programme:
| 18th June 2022 | Transition period Start date: (30 Days before Go Live) |
|
4th July 2022 |
Last registration SSD before Go live: (14 days before Go Live) |
|
12th July 2022 |
Last Gas New Connection registration: (6 Days before Go Live) |
|
13th July 2022 |
Last Electricity New Connection Registration: (5 Days Before Go Live) |
|
18th July 2022 |
Faster Switching Go Live date |
|
19th- 22nd July 2022 |
Industry Blackout Period |
|
23rd July 2022 |
First CSS Faster Switching Registrations |
Is there any more information I need to know on Faster Switching?
We will continue to keep you updated throughout the year with all the latest news.
In the meantime, you can also check out these resources:
Ofgem
Switching Programme Summary Page
Gentrack
I want to discuss this in more detail
We know the change is a lot to take in, so if you’d like to chat with a member of our team about Faster Switching, please get in touch directly with your TPI Engage Account Manager.