It can currently take up to five weeks to switch suppliers, including a mandatory two-week cancellation period, which many experts argue has restricted the willingness of consumers to ditch one brand for another.
In a move that mimics the launch of the banking sector’s own switching service, from the start of 2015, the switching time will fall to three days plus a two-week "cooling-off period".
Ofgem said it hopes next-day switching could be introduced by 2018, once IT systems have been upgraded and more consumers are using smart meters.
Ofgem chief executive Dermot Nolan said: "Consumers can change their bank in seven days, their mobile phone in just a couple, but have to wait significantly longer to switch their energy supplier
"So, following the steps we have taken to make the market simpler, clearer and fairer, we are now leading a programme, which will deliver faster, more reliable switching."
In September last year, , which reduced switching times to seven working days, wtih the aim of delivering increased customer choice and competition in the marketplace.
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