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MSE News: Ofgem launches trials to help prevent energy customers from overpaying

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Energy regulator Ofgem is pushing ahead with plans to encourage customers to find the best deals...
Read the full story:
'Ofgem launches trials to help prevent energy customers from overpaying'
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Comments

  • molerat
    molerat Posts: 34,562 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    And if they use the OFGEM mandated method of calculating "savings" what could possibly go wrong :p
  • System
    System Posts: 178,346 Community Admin
    10,000 Posts Photogenic Name Dropper
    molerat wrote: »
    And if they use the OFGEM mandated method of calculating "savings" what could possibly go wrong :p

    It will 100% accurate for first time switchers which is why Ofgem is so reluctant to move to a more accurate annual projection cost comparison.
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Ken68
    Ken68 Posts: 6,825 Forumite
    Part of the Furniture 1,000 Posts Energy Saving Champion Home Insurance Hacker!
    Can't see it happening. For suppliers to notify their customer where it is cheaper elsewhere goes against all business sense.
    Like Tesco saying Lidl are cheaper.
  • D_M_E
    D_M_E Posts: 3,008 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    It's flawed from the start, BUT I just wonder if, by making suppliers provide details of cheaper tariffs offered by other suppliers, they are hoping to start a price war and hoping that the current supplier will offer market-beating deals in the same messages?
  • System
    System Posts: 178,346 Community Admin
    10,000 Posts Photogenic Name Dropper
    From today's Daily Mail. NPower MD appearing before a HoC's Committee:

    In the evidence session in Parliament this morning, Npower admitted that it used a business model that subsidised its cheaper online offers by charging existing customers standard variable or default tariffs (SVTs).

    Simon Stacey, managing director for Npower Domestic Markets, said watchdogs were correct in its assessment of its business practices. 'I think the your assessment is right in a generality,' he told MPs.

    'You have to recognise the standard price is effect subsidising the non-standard tariff.

    'But if you put everybody on non-standard the price will inevitably go up.'


    Read more: http://www.dailymail.co.uk/news/article-4176540/Big-Six-energy-firms-like-wife-beaters-says-Labour-MP.html#ixzz4XMSoOcPy
    Follow us: @MailOnline on Twitter | DailyMail on Facebook
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Ken68
    Ken68 Posts: 6,825 Forumite
    Part of the Furniture 1,000 Posts Energy Saving Champion Home Insurance Hacker!
    Odd prices too from SSE. The Standing Charge per month for a 3 year fix is half that of the 1 year tariff.
  • Pincher
    Pincher Posts: 6,552 Forumite
    1,000 Posts Combo Breaker
    They should get John Lewis to do energy.

    No riff raff allowed. Only proven Waitrose and John Lewis card holders who actually shop may apply, as well as the usual credit checks. That should reduce the time wasters who don't pay their bills.

    Loyal customers get John Lewis/Waitrose vouchers.

    We can run independent customer satisfaction surveys, and only decent scores get their license renewed. Higher score can only be sustained by decent profit margins, so don't expect John Lewis to be cheap.

    Being a John Lewis Energy customer is then a status symbol.
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