The energy confusopoly

davidgmmafan

Another observation which supports the view that Ofgem is part of the problem rather than part of the solution.

http://www.msn.com/en-gb/money/other/deliberately-confusing-energy-bills-cost-households/ar-AAaVyKD?ocid=mailsignoutmd

Bluebirdman_of_Alcathays

davidgmmafan wrote: »

Another observation which supports the view that Ofgem is part of the problem rather than part of the solution.

http://www.msn.com/en-gb/money/other/deliberately-confusing-energy-bills-cost-households/ar-AAaVyKD?ocid=mailsignoutmd

What the !!!! is this !!!!?! It sure isn't journalism. Some z rate wannabe news outfit has churned out a press release from a comparison site.

If there's ever anyone who is part of the problem but unwilling to be part of the solution, it's the comparison sites.

Cardew

Bluebirdman_of_Alcathays wrote: »

What the !!!! is this !!!!?! It sure isn't journalism. Some z rate wannabe news outfit has churned out a press release from a comparison site.

If there's ever anyone who is part of the problem but unwilling to be part of the solution, it's the comparison sites.

Couldn't agree more!


Their 'study' concludes that customers over-pay £4billion. Well my mate Jack and I carried out a comprehensive study down the pub tonight and we find their figure to be a 33.672% over-estimate.

davidgmmafan

Seriously?

What's wrong with

"deliberately confusing way that suppliers present information" &

"
CentreForum said the "confusopoly" prevented effective competition in the energy market and led to customers being "ripped off".
The think tank said it supported the Retail Market Review led by Ofgem but called for the new Tariff Comparison Rate (TCR) to be scrapped - or better communicated - on the basis that it could be "misinterpreted as an accurate comparison tool for all consumers" rather than the average customer."

The TCR is pretty pap isn't it?

I admit the bit about £4 billion is somewhat misleading - the way the market works means this saving would never be realized. Some might benefit but if they are selling some tariffs as a loss leader then there is limited scope for everyone to do this.

Are we saying there is no confusopoly? I've heard the term before and cannot think of a better example than the energy market in the UK.

Cardew

davidgmmafan wrote: »

Are we saying there is no confusopoly? I've heard the term before and cannot think of a better example than the energy market in the UK.

Several companies are selling EXACTLY the same product, delivered to our properties by EXACTLY the same wires and pipes. How else can they compete against each other except by attempting to confuse potential customers.

What is the solution? - all have the same DSC and unit rate? Then no need for us to pay hundreds of millions of pounds in commission to the parasitic comparison website industry. Any idiot can tell punters that the cheapest tariff is the one with the cheapest unit rate.

BofA's point was the source/style of the article - they must be taking lessons from Ann Robinson of Uswitch(not Anne Robinson of face-lift fame). The last thing the comparison websites want is for an energy industry to have simple and easily understood tariffs; confusion is how they make their money.