Economy Energy, who are they?

spinningsheep · 19 January 2013 at 4:34PM

Who are these people? Never heard of them, had a rep stop me in the street a few days back and I gather they only offer prepay and the rep told me THEY supply the energy, nobody is behind them like Sainsburys Energy and BG for eg, but their website seems vague!

http://www.economyenergy.co.uk/index.html

Joyful · 19 January 2013 at 5:30PM

One of the points they make is no charge for emergency credit on prepay meters. As far as I am aware no companies make a charge for this so their selling tactics seem iffy. It also looks like the only tariff is a fixed for 12 month one.

chris1973 · 19 January 2013 at 8:33PM

Well its about time somebody did something to offer better tariffs for prepayment customers, over the standard tariffs offered by others, so I hope that they will succeed in their business, even if it is relatively new.

After all, if they do find a way of offering a deal more in line with the discounted DD tariffs offered to credit meter customers then good luck to them, i'm sure they'll lure quite a few prepayment customers away from the big boys

That said its a bit of a concern that they appear to be a non trading individual with Nominet and have withheld their address details on their domain registration. Sounds like a bit of a bedroom based business operator in that respect.

I also can't find any listing for them on Duedil, which may just be down to how long they have been operating.

mallenmeuk · 2 February 2013 at 1:17PM

All I can say is be careful if you are thinking of using economyenergy.co.uk

I have inherited this company as a supplier for my electricity after moving house in early December 2012 and ever since then I have been trying to switch my supply to my prefered supplier however FOUR TIMES now economyenergy.co.uk have cancelled my transfer at the last minute.

In my many telephone conversations with this company I have been given a range of excuses for the cancelled transfer ranging from "an ex employee not knowing what she was doing" to a "signed contract with a previous unconnected resident at my address!" Despite reassurances that all will go through on the next occasion they declined my switch again only yesterday.... What concerns me the most was a conversation which I had with the Ombudsman Services last week - economyenergy.co.uk are NOT subscribed to their complaints scheme so they are unable to assist with my issue.

To summarise I would advise anyone to avoid this company at all costs!

dogshome · 2 February 2013 at 2:27PM

Thank you mallenmeuk
Like most of the regulars on this site, I was concerned when Consumer Focus bailed out, (or was pushed out), of it's role for handling Gas/Elec customer Complaints in December 2012, with the Baton being passed over to the Citizens Advice Bureau.

This left just 2 avenues for Complaints - 1) The CAB, who though a worthy organsation, do not have the staffing, experience and most importantly the legal remit to pursue and fine Suppliers, and 2) The Ombudsman, whom we now know won't care a monkeys if a Complainants supplier is not a subscribeing member, even if that supplier broke into a household and kidnapped it's children in order to get paid, for what later transpires to be a 'Phantom' debt

Wywth · 2 February 2013 at 4:55PM

mallenmeuk wrote: »

All I can say is be careful if you are thinking of using economyenergy.co.uk

I have inherited this company as a supplier for my electricity after moving house in early December 2012 and ever since then I have been trying to switch my supply to my prefered supplier however FOUR TIMES now economyenergy.co.uk have cancelled my transfer at the last minute.

In my many telephone conversations with this company I have been given a range of excuses for the cancelled transfer ranging from "an ex employee not knowing what she was doing" to a "signed contract with a previous unconnected resident at my address!" Despite reassurances that all will go through on the next occasion they declined my switch again only yesterday.... What concerns me the most was a conversation which I had with the Ombudsman Services last week - economyenergy.co.uk are NOT subscribed to their complaints scheme so they are unable to assist with my issue.

To summarise I would advise anyone to avoid this company at all costs!

A member of the ombudsman scheme or not, they are still subject to contractual law.

Seek legal advice now. They already appear to have admitted breaching the contract when they agreed "an ex employee not knowing what she was doing"

Btw, I can't see their tariff details on their website. What are they please? They do say they only have one, and as a customer, I'm sure you could enlighten us

Wywth · 2 February 2013 at 5:03PM

spinningsheep wrote: »

Who are these people? Never heard of them, had a rep stop me in the street a few days back and I gather they only offer prepay and the rep told me THEY supply the energy, nobody is behind them like Sainsburys Energy and BG for eg, but their website seems vague!

http://www.economyenergy.co.uk/index.html

They are a relatively new energy supplier it would appear.

They were granted supply licences on 19 May 2011 under their original name, Power Assured Limited.

http://www.ofgem.gov.uk/Licensing/Work/Notices/Licences/Documents1/Power%20Assured%20Limited%20grant%20elec%20supp%20lic.pdf

http://www.ofgem.gov.uk/Licensing/Work/Notices/Licences/Documents1/Power%20Assured%20Limited%20grant%20gas%20supp%20lic.pdf

I agree, their website is indeed very vague. It says they only have one traiff, but oddly don't appear to sya what it is and admit you won't find them on any comparison site.

Hopefully mallenmeuk will enlighten us further as to their tariff

Edit: Their terms and conditions imply they supply credit metered customers as well as PPM customers.
I presume they charge everyone the same price , irrespective of meter type, a bit like Ebico do.

Richie-from-the-Boro · 2 February 2013 at 9:09PM

Their company address puts them smack in the middle of an airport.

mallenmeuk · 3 February 2013 at 10:07AM

Sorry Folks no can do.

When I took responsibility for the supply there was no discussion regarding their cost per unit, or for that matter any reference to a minimum contract period. All that was requested was my name to take responsibility for the supply. (Just for reference I'm a Pay as you go customer)

I've had no paperwork, welcome pack or anything else from these Guys...

Wywth · 3 February 2013 at 1:00PM

mallenmeuk wrote: »

Sorry Folks no can do.

When I took responsibility for the supply there was no discussion regarding their cost per unit, or for that matter any reference to a minimum contract period. All that was requested was my name to take responsibility for the supply. (Just for reference I'm a Pay as you go customer)

I've had no paperwork, welcome pack or anything else from these Guys...

How did I know you wouldn't be able to give us details of their pricing? :cool:

You should be able to see the unit price on their statement, or in the absence of one of these, I think the unit price is available directly from the PPM

Why do you want to change supplier if you don't even know how much they are charging you???
They may be cheaper than anyone else? As you won't find them on any comparison site (according to their website), you'll need their price to make any comparison to any other supplier.

Wywth · 3 February 2013 at 1:06PM

Richie-from-the-Boro wrote: »

Their company address puts them smack in the middle of an airport.

You obviously have never been to Coventry Airport - there is indeed a large business park there

Economy Energy, who are they?

CC limits £26000

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