Due to the impact of the current energy crisis, consumers may be more likely to shop around in an effort to reduce costs. However, for UK residents, the outdated process of switching energy providers can be tedious and lengthy, in some cases taking over three weeks. The government has introduced a mandate that will radically transform this activity, meaning energy providers must now comply in order to support their customers.
As a result of soaring energy prices and a changing economic landscape, the Ofgem-designed price cap has been forced to rise by more than 80%, making competitive fixed rate tariffs a thing of the past. Many consumers are now seeking to switch providers, but the current Ofgem arrangements implemented in the late 1990s are causing delays, errors, and unnecessary costs.
The goal of the new Ofgem mandate is to create a faster, more reliable system for consumers. But for energy suppliers, compliant licensing is now essential to avoid heavy fines or even losing the ability to trade entirely.
“Provider switching times have now been reduced from 21 days to just a single day.”
With a proven track-record of delivering and managing cloud platforms, Oracle Consulting can equip providers with the tools to overcome this challenge and put their customers first.
1) A group of 20 subject matter experts worked closely with the leading UK energy provider on the initial priority: rationalizing its cloud strategy.
2) Once this phase was complete, a Switching Hub was built to serve as a platform for the Ofgem Switching Program (OSP).
3) A framework was then developed to handle business process integration between the Ofgem Central Switching System (CSS) and the customer’s existing business systems. APIs and a Business Service Layer were introduced to provide real-time operational insights and analytics.
4) Before preparing for launch, a crucial Sales Services platform was also developed
In this example, the solution was launched in 2022, ensuring that the client achieved mandate compliance before the deadline and could continue trading competently.
The combination of the Central Switching System and switching arrangements have reinvented what was once was a complex and slow process, enabling greater speed and efficiency and empowering consumers to easily change providers if necessary.
To learn more about this solution please contact Andrew Fowler.