Competition and Markets Authority Review

modsandmockers

I agree with everything you say. But it is the ‘authorities’ who are agonising over the failure of the energy industry to offer a transparently fair deal to all of their customers. Your post offers a comprehensive list of all the relevant questions, but this latest review hasn’t, so far as I can see, done anything but repeat the same questions (which the likes of you and I have been asking for ages).

The energy suppliers’ websites should offer a simple price list of unit prices and standing charges, with the option for consumers to enter their estimated annual usage in return for an annual estimated price. Shopping around for energy would then be no different from shopping around for a phone contract or a new car. Unfortunately, although most people know something about their phone usage and their approximate annual mileage, most have no clue at all about their energy consumption.

The energy suppliers, like the banks, are in a group which is effectively operating a monopoly. They continue to dictate their own terms.

brewerdave

70% are on the SV tariff ??:eek:Seems unbelievable to me - checking back, I first switched suppliers in May 2000:T

Bark01

modsandmockers wrote: »

The energy suppliers’ websites should offer a simple price list of unit prices and standing charges, with the option for consumers to enter their estimated annual usage in return for an annual estimated price.

They all pretty much do. I've just checked the Energy home page of the big 6 and they all have a box allowing you to enter your postcode and get a quick quote back.

modsandmockers wrote: »

most have no clue at all about their energy consumption.

If you don't know your consumption where is the first place you would look? A Bill? Projected consumption needs to be clearly shown (the regs even cover the type face and font size) on page 2 in the right hand column.

Most people are triggered into looking for new tariffs either by their current tariff ending or by a price change event or by a bill or annual statement. All these events have regulatory mailings that
a) provide a personalised quote stating what the cheapest tariff available for the customer is and
b) the customers projected annual consumption, so they can go away and source a quote themselves.

Nada666

modsandmockers wrote: »

It's the 'minimum of fuss' bit I would disagree with. It's easy to get an annual saving figure (of extremely dubious value), but if you want to know the prices, you have to drill deeper. And that's where the 70% are likely to give up the struggle.

Complete rubbish. The consideration of offers is straightforward. The process of switching is straightforward. Anyone that cannot fathom these two things (or, more likely, chooses not to bother,) cannot be helped regardless of changes.

The summary headline is a good news story not bad - in a market where annual prices can vary by two or four hundred pounds per year the worst hit people are only 'losing' £4 a month on an £100 or £110 bill.

We can continue to harangue the obstinate to one-time bother to take ten minutes to fathom out the market so subsequently they can take only thirty seconds every twelve or fifteen months to review new deals - but no amount of faffing about with presentation of bills or tariff information is really going to help those who can't be arsed today.

Smiley_Dan

Nada666 wrote: »

Complete rubbish. The consideration of offers is straightforward. The process of switching is straightforward. Anyone that cannot fathom these two things (or, more likely, chooses not to bother,) cannot be helped regardless of changes.

Maybe it's the fact that we have the "choice" that is the problem then.

modsandmockers

Bark01 wrote: »

They all pretty much do. I've just checked the Energy home page of the big 6 and they all have a box allowing you to enter your postcode and get a quick quote back

I tried the Scottish Power site, and it gave me a monthly and yearly total based solely on my household size and number of bedrooms, which is no better than a guess. It did not tell me any prices (standing charge and unit price), and it required several more clicks to get to the necessary information. Even though I clicked 'View Tariff Information Labels' the site still tried to divert me back to more annual quotes. If I had not already known the meaning and content of the 'Tariff Information Label', I would probably never have found out the actual tariff prices.

If you don't know your consumption where is the first place you would look? A Bill? Projected consumption needs to be clearly shown (the regs even cover the type face and font size) on page 2 in the right hand column

That's what you and I would do, but the energy companies know only too well that we are in the minority

Most people are triggered into looking for new tariffs either by their current tariff ending or by a price change event or by a bill or annual statement

The main thrust of the review is that 70% of people are never triggered into looking for new tariffs

modsandmockers

Nada666 wrote: »

Complete rubbish. The process of switching is straightforward

Really? At it's very best, the process of switching takes several weeks, and that's if there are no complications or mistakes. The 'complete rubbish' bit, imo, is the suggestion that all your energy decisions can be made in the space of 30 seconds every 12-15 months!

Bark01

modsandmockers wrote: »

Really? At it's very best, the process of switching takes several weeks, and that's if there are no complications or mistakes. The 'complete rubbish' bit, imo, is the suggestion that all your energy decisions can be made in the space of 30 seconds every 12-15 months!

Take your head out of the red tops.

http://www.moneysavingexpert.com/news/utilities/2015/01/energy-switches-now-possible-in-17-days-but-not-for-all-suppliers

modsandmockers

Bark01 wrote: »

Take your head out of the red tops.

http://www.moneysavingexpert.com/news/utilities/2015/01/energy-switches-now-possible-in-17-days-but-not-for-all-suppliers

Read more carefully the title of the thread to which you have linked. Add then add on the time and effort that is frequently required to get a final bill and refund from the previous supplier!

Bark01

modsandmockers wrote: »

Read more carefully the title of the thread to which you have linked. Add then add on the time and effort that is frequently required to get a final bill and refund from the previous supplier!

Only Greenstar, Extra Energy and Co-op didn't have a confirmed date for when they could offer 17 day switching all other suppliers are live. All this negativity isn't doing anyone any good.

Most switches go through fine, in any industry there will always be noisy outliers. There are no reports to show 17 day switching isn't working. The official statistics will be released towards the end of the year.