first:utility disguises termination fees as "discounts"

Consumerist

According to the UK Power comparison site, the first:utility iSave v9 dual fuel tariff is a fixed tariff for only three months and has the following "discounts" arrangement :-

Dual fuel discount of 13% payable annually after 12 consecutive Direct Debit payments (included in price displayed). The dual fuel discount is capped at £80 (inc VAT) for electricity and £100 (inc VAT) for gas. This discount is paid annually and is subject to a minimum spend of £600 per annum. Customers who leave within the first year will not receive these discounts.

What real hope is there of the energy companies getting behind Ofgem's proposed changes to licence conditions if this is their idea of simplicity and transparency?

backfoot

Good post.You have said it all.