What were you doing in 2014?
It was the year of the Scottish Referendum and the Brazil World Cup. Apple announced the iPhone 6. Psy achieved 2 billion hits on you Tube, ‘breaking’ You Tube’s view-counter in the process1.
In the retail energy markets in 2014 there were 18 suppliers, with 95% of customers with the 6 biggest energy suppliers<sup2. It was a busy year for the regulator as Ofgem referred the stalled energy market to the Competition and Markets Authority (CMA) and then also launched the Faster Switching Programme. However, the ambitious within-a-day switching objective was later diluted to next day.
Fast forward over half a decade, a pandemic and a wholesale price crisis later, switching reform is about to enter implementation. And energy suppliers, many of whom are struggling to survive, must now operate within a new Performance Assurance Framework under the Retail Energy Code (REC). Switching performance falls within the framework’s scope, adding to the list of operational and strategic risks that energy suppliers must now manage.
Having been at the centre of the faster switching programme for the past five years and concerned that energy suppliers may not be ready for go-live, I have written a paper that discusses the importance of the switching programme and what organisations need to do in readiness for faster switching.
To download your free copy instantly by clicking on the link: Click to download the Thought Leadership Paper: Faster Switching Is Fast Approaching: Are you Ready?
Footnotes
1 https://www.bbc.co.uk/news/world-asia-30288542
2 https://www.theguardian.com/business/2014/mar/24/big-six-energy-companies-competition-inquiry
Contact Us
If you would like to find out more about the switching programme or how Gemserv can help yoru organisation, please contact Dan on dan.simons@gemserv.com.
