no, an SLA is a published and agreed process for maintaining a certain level of service.
the automatic compensation scheme is simply to compensate cusomter automatically for downtime. it doesn't stipulate how long it should take for anything to get fixed.
To me though, a automatic compensation for downtime, is akin to an uptime SLA.
Who pays for this compensation? if its the CP's no problem from me but as stated by Carl they would likely up their prices so ultimately customers pay for it, but I dont think it should be openreach as they are heavily cost controlled by ofcom, to a level that encourages the practices we have now.