MSE News: Energy providers to be investigated over excess profits claim

Former_MSE_Lucinda Former MSE Posts: 46 Forumite
edited 14 November 2016 at 5:17PM in Energy
The Business Secretary is to investigate an allegation that the 'big six' energy suppliers are making more money out of loyal customers than they are admitting to...
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'Energy providers to be investigated over excess profits claim – switch your supplier to save'
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  • footyguy
    footyguy Forumite Posts: 4,157
    1,000 Posts Combo Breaker
    I'm pretty sure the 4% profit stated is the average profit across all customers.
    Yes some customers will be more profitable than others.
    If suppliers can only make 4% profit on each individual customer then
    (a) it's hit hard those of us that have ssought out a good deal
    (b) there will probably only be one tariff per method of payment (so that means PPM customers should expect prices to rise for them as they are currently usually the same as credit customers on standard, variable rates paying by cash or cheque)

    Is that what we really all want?
    (I guess I shouldn't ask that - last time something like that was aked here, MSE'ers voted en-masse for higher prices, hence the mess we are now in with restrictions on tariffs suppliers can openly list, so finding the good collective tariffs that now are being created in an attempt to get around these restrictive rules is proving even more troublesome)
  • matelodave
    matelodave Forumite Posts: 8,370
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Be careful what you wish for - we could all get stuffed once they start getting "investigated"
    Never under estimate the power of stupid people in large numbers
  • Richie-from-the-Boro
    Richie-from-the-Boro Forumite Posts: 6,945
    Tenth Anniversary 1,000 Posts Name Dropper
    Them & Us !

    They, the largely 'stickies' have always been exploited more than us, those who (1) actively seek a better tariff at least three times a year (2) pay DD each month (3) enter our own meter readings six weekly etc.

    It has been the case since privatisation, actively supported by politicians and their annointed neutered agencies I see more long grass, extended prevarication and conflation coming to keep this unequal distribution benefitting the suppliers - and those like myself who will swap at the drop of a hat.

    Disclaimer : Everything I write on this forum is my opinion. I try to be an even-handed poster and accept that you at times may not agree with these opinions or how I choose to express them, this is not my problem. The Disabled : If years cannot be added to their lives, at least life can be added to their years - Alf Morris - ℜ
  • VT82
    VT82 Forumite Posts: 1,077
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Greg Clark MP says: "Customers who are loyal to their energy supplier should be treated well."

    Can he really write the word 'loyal' in that sentence with a straight face?! Because nobody reading it will be so gullible as to think that 'loyal' is the appropriate word to describe the sort of customer who has languished on a standard tariff!
  • teddysmum
    teddysmum Forumite Posts: 9,452
    Part of the Furniture 1,000 Posts Combo Breaker
    matelodave wrote: »
    Be careful what you wish for - we could all get stuffed once they start getting "investigated"

    Like our 'need' for clear broadband pricing (being unable to add up or understand that you need a line to get broadband), leading to combined prices incorporating a large increase .
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