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MSE News: Energy cashback saved from total Ofgem ban
Former_MSE_Helen
Posts: 2,382 Forumite
in Energy
"Comparison sites will still be able to pay cashback to consumers who switch after lobbying by MoneySavingExpert.com..."
Read the full story:
Energy cashback saved from total Ofgem ban
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Energy cashback saved from total Ofgem ban
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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Comments
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I would imagine that the business model for the Cheap Energy Club would have fallen flat on its face had there not been an exception.
Not that this would have had anything to do with the MSE campaign of course
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Have to be brutally frank and state that I'm not convinced MSE would have campaigned like this had they not been bought out by moneysupermarket and started their own switching site. Hmmmm...0
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This whole episode is a non story.
All that has happened is that out and out "cash" bribes from the suppliers has been outlawed and replaced by out and out "non cash" bribes. (Companies now have to use gifts as "bribes" eg. shopping vouchers rather than actual cash)0 -
Which all, of course, ads to ALL customers' bills in the long run. I still have no idea why a regulator who is supposed to look after all the energy market's customers can't just have a central, Govt-backed comparison site which shows you the best deal for your circumstances and doesn't involve any bribes etc. Or would that be too simple/unambiguous for an industry that seems to prosper on ambiguity and confusion?0
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Not liking this one bit, who do you think pays for the cashback, its us the consumer. Isn't the cheapest deal reward in its own right?
A total ban on cashback for energy and car insurance would surely help lower premiums for all.0 -
cheap energy club, moneysupermarket ..... think have to agree there was a financial intrest by the sites owners.Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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Agreed we should always use comparison sites to FIND the cheapest deal.
However I don't normally use them to BUY. I have often gone to the cheapest provider via a cashback website. Don't see the problem with that.0 -
Another seemingly perverse and anti-consumer decision by Ofgem is to ban the Co-op from giving dividend to Co-op Energy customers (and hence members). I have asked why they have done this and whether they will also be banning consumers who happen to hold shares in their energy supplier from receiving shareholder dividends. I will let you know their response!0
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topcashback don't seem to be offering any cashback for electric/gas at the moment. Is this the reason?0
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Be aware that Cheap Energy Club is not an Ofgem-approved comparison site and so it is not bound by the Confidence Code.
There has been some criticism on this site regarding CEC accuracy and switching failures.
Use Cheap Energy Club at your own risk.
Warning: In the kingdom of the blind, the one-eyed man is king.
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