Economy Energy, who are they?

tinadadd

Has anyone had any good dealings with this company? I found myself being sweet talked into signing up, I've received no paperwork or meter key and the code that they have given my to activate another key is not working. I want to quit with them and go back to my previous supplier, can I?

Scruff2015

21 Sept 2016:


Ofgem launches investigation into Economy Energy Trading Limited sales practices.


Looks like these guys may have been at it again - seems like that they just don't care or learn!


Its their 3rd serious investigation in as many years!

azzadle

They're going to get bent over by OFGEM

Scruff2015

Looks like their sister company also in trouble now for same reasons. From Ofgem website:


Investigation into E (Gas and Electricity) Limited’s compliance under the gas and electricity supply licences (Standard Licence Condition 25)


Opened: Sep 2016
Company: E (Gas and Electricity) Limited
Regulation Area: Sectoral Regulations
Breach Areas: Marketing and telesales activities Vulnerable customers


We have opened an investigation into whether E (Gas and Electricity) Limited has complied with the relevant conditions set out in Standard Licence Condition (SLC) 25 in relation to its sales and marketing obligations.

Scruff2015

Economy Energy alert


October 5, 2016


2016-10-05 - Economy Energy


An energy company previously fined by the industry watchdog has been targeting households in Fieldway and New Addington, falsely claiming to be working with Croydon Council.


Over the past week, the council’s trading standards team has received a number of complaints concerning residents who have been cold called by a representative of Coventry-based Economy Energy.

Gaining access by claiming that he needed to read the property’s meter, he then asks the resident which company supplies their energy and goes on to say that Economy Energy is working with the council, which is keen that as many residents as possible switch supplier, to his company.

Croydon Council does not have, and has never had, any affiliation with Economy Energy.

In December of last year, the company was fined £250,000 by Ofgem following an investigation into the company’s lack of compliance with industry regulations – read more. And the company is currently under investigation into the sales practices it employs – read more.

Councillor Hamida Ali, cabinet member for communities, safety and justice

“As ever, I’d urge residents to never allow cold callers access to their home without first checking the caller is a representative of a legitimate company and carries ID that can be confidently checked.

“For this individual to gain access on the pretence of being a meter reader and then claim that his company is working with the council to get customers to switch their energy account is particularly disturbing.

“I’d stress that the council has no links, whatsoever, to Economy Energy, and would urge residents to have nothing to do with anybody claiming to represent the company.”

Anybody who is concerned about the behaviour of an energy company sales agent should call the Citizens Advice Consumer Service on 03454 04 05 06 or click here.

Croydon’s trading standards team recommends residents enrol in utility companies’ password schemes. Under such schemes, customers register a password of their choice that they can ask any caller from the company to provide before giving access to their property. Inability to provide the password indicates that the caller is not from the company and the resident then knows not to let them in.

Messymane

I got stopped by them about 2 month ago thereabouts and although he was a bit full on he told me my tarrif wouldn't change in winter which sounded good, I wouldn't have a standing charge for prepayment meter which was good and I must admit I am happy so far, no problems and when I had an issue with my key having a fault I got one in mail next day so all in all I hope they keep up the good work

Scruff2015

Sounds like your an exception Messymane.


Just read all the news about Economy Energy and E(Gas and Electricity) ... doesn't take a genius to do a bit of research on Google, look at companies house, and social media to realize what these 2 companies are like.


If you've had a positive experience, then great! Might be worth telling Ofgem that too. Though its funny why someone would setup a MSE account to report what you have - mostly its disgruntled customers who do this


Don't suppose you have a stake or interest in the company and have created lots of new accounts to post a positive comment? Just an observation, but it seems positive comments on this whole thread is only, or mostly from Newbies


I think an earlier post also said something like this!!!!

Joyful

The latest complaint we had recently was Economy Energy saying they were from British Gas and were to get an elderly customer a new key to reduce her tariff. Talk about miss selling!

azzadle

I'm not sure 'E' are a sister company.

I recently heard from one person (supplied by E) that when Economy did a price comparison on the phone they told the customer 'E are part of British Gas so we'll just compare against them' - knowing fully they can beat BG but probably not E. Now THAT'S misleading.

Scruff2015

E(Gas and Electricity) and Economy Energy are "together" ...


- They are being investigated for the same problems.
- They are based in similar areas.
- They have similar websites.
- They offer the same products.
- Look at the info on companies house, company check websites. Doesn't take a genius ....


They have nothing to do with B Gas or any other company. They are both independent entities.


That TV program - Rouge Traders (?) should be commissioned to look into these 2 companies. Would be interesting ....