Now banks have to move accounts within 7 days

houseimprover

shouldn't the pressure be applied to energy companies to do the same?

Its been 3 weeks and one day since I swapped online, since then I have effectively move 2/5ths of the process along according to Scottish Power.

That is a bit poor IMO.

Ryune

It depends. The current timescale allows for cooling off periods and for mistakes to be sorted before its too late (usually someone transferring the wrong supply due to not knowing which meter in the flat was theirs).

It is possible to do transfers in much shorter times (I've had electricity done in under a week). The reason it isn't generally done is that there are all sorts of things that could go awry.

That said there is scope to speed it up, but 7 days is too short. What happens if someone backs out on day 7?

houseimprover

Ryune wrote: »

It depends. The current timescale allows for cooling off periods and for mistakes to be sorted before its too late (usually someone transferring the wrong supply due to not knowing which meter in the flat was theirs).

It is possible to do transfers in much shorter times (I've had electricity done in under a week). The reason it isn't generally done is that there are all sorts of things that could go awry.

That said there is scope to speed it up, but 7 days is too short. What happens if someone backs out on day 7?

Good point but the laws could be changed to say 3 days cooling period and 4 days to change or probably fairer all round

7 day cooling and then 7 days to change....2 weeks tops.

spiro

Most suppliers tend to allow 14 calendars days for cooling off. This is to allow customer to receive information, review and get back in touch. Given that in some cases you are relying on two letters thats not unreasonable.

houseimprover

spiro wrote: »

Most suppliers tend to allow 14 calendars days for cooling off. This is to allow customer to receive information, review and get back in touch. Given that in some cases you are relying on two letters thats not unreasonable.

I still think changes could be quicker and within a defined time, at the moment its at the whim of the suppliers.

wakeupalarm

You should be able to change suppliers in 7 days and the cooling off period should start after you have switched. It works for other products you buy online so why not for Energy?