Regardless of what Easyjet T&C's may imply, EU leglislation states that you are entitled to claim up to Euros 250 compensation if :-
(a) The cancellation happens within two weeks of the flight .
(b) The only alternative flights are > 4 hours different from the original.
Providing the delay/cancellation is down to them (U/S aircraft, Crew shortage - quite common at the moment apparently) Obviously they are not going to advertise this fact !! Don't let them sway you otherwise. Mention the EU !!!
Take a look here :-
http://ec.europa.eu/transport/air/ru...ctsheet_en.pdf