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Market research & Insight

Issue 831 | Ofgem switching compensation consultation

Issue 831 | Ofgem switching compensation consultation

Steven Britton Steven Britton Senior Analyst

1 Assessment & recommendation Ofgem issued a consultation on 12 June regarding plans to require suppliers to compensate domestic customers who experience problems with their switches. The regulator is seeking to improve confidence in the switching process in order to encourage customer engagement, but also to incentivise suppliers to take steps to improve the process such as through reducing the rate of erroneous transfers (ETs). This will be especially relevant with the upcoming faster switching arrangements expected to increase the rate of switching. Specifically, Ofgem proposes to extend the Guaranteed Standards of Performance to require suppliers to make payments to domestic customers ...

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