Results
The Faster Switching Programme went live in July 2022 with a single‑day, nationwide changeover, successfully migrating 272 million records into the new switching ecosystem and bringing every supplier onto the new service at once. The new system immediately cut switching times from an average of 28 days to a maximum of five days, with the capability for next‑day switching as regulations evolved.
From the outset, energy suppliers reported a significant increase in the rate of consumers switching supplier, reflecting higher confidence in the speed and reliability of the new service. In the period since go‑live, consumers and business owners have faced volatile energy prices. But the faster and more reliable switching arrangements have given them a practical way to respond.
Since go‑live, Ofgem has introduced a temporary price cap for default tariffs as a safeguard for disengaged consumers, while leading a series of programmes and projects to improve market operation and consumer outcomes, in which the Faster Switching arrangements have been central and critical enablers.
»What we’re seeing now is the real prize,« says Tim Derville. »Faster, reliable switching is helping households and businesses navigate price volatility, while giving regulators and suppliers a platform they can build new protections and innovations on.«
Netcompany’s performance during delivery led to its retention as switching SI for live operations, where it continues to support Smart DCC with ongoing performance management, in‑life change and a pipeline of optimisation initiatives.
»This was never just a technology upgrade,« says Tim. »FSP has reshaped how the energy market operates – with faster, more reliable switching as a foundation for greater competition and innovation.«