NOW OPEN: the MSE Forum 'Ask An Expert' event. This time we'd like your questions on TRAVEL & HOLIDAY DEALS. Post by Wed and deals expert MSE Oli will answer as many as he can.
Citizens Advice launches 'super complaint' over £4 billion loyalty penalty - MSE News

696 Posts



in Energy
Citizens Advice has lodged a 'super complaint' with the competition watchdog after finding that customers who remain loyal to firms are overpaying by £4 billion a year...
Read the full story:
'Citizens Advice launches 'super complaint' over £4 billion loyalty penalty'

Click reply below to discuss. If you haven’t already, join the forum to reply.
'Citizens Advice launches 'super complaint' over £4 billion loyalty penalty'

Click reply below to discuss. If you haven’t already, join the forum to reply.
Read the latest MSE News
Flag up a news story: [email protected]
Get the Free MoneySavingExpert Money Tips E-mail
Flag up a news story: [email protected]
Get the Free MoneySavingExpert Money Tips E-mail
0
This discussion has been closed.
Latest MSE News and Guides
Replies
~~joosy jeezus~~
Don't assume that everyone has the same level of ability or capability that you have.
Just because you and I have the knowledge and equipment to search the internet, doesn't mean everyone out there does!
It's also a complete nonsense that people have to spend time shopping around.
If everyone paid a fair rate for their services, and didn't have to spend large amounts of time shopping around, then they could concentrate on doing their jobs well, volunteering, caring for others, and enjoying life to the full.
You hear that 'it doesn't take much time to shop around'. That may be true of you and me, but what about those people including vulnerable customers who don't find it so easy?
Of course to promote the development of good, efficient companies who provide services there has to be an element of competition. But the current system of penalising the loyal is all about rewarding companies who are able to extract as much money as possible out of people, for example by ripping off loyal customers, rather than those companies that can efficiently provide services.
So if we want to change what is a pretty rotten system at the moment, rather than start again, then action is needed.
So well done to Citizens Advice for launching the super-complaint :T
Looking back over the last 6 years, I have alternated my home insurance between two companies to secure cash back etc. That said, I would agree that 1st year savings bonuses are a bit of a pain, and it does require the setting up of annual reminders.
'Horses and water' come to mind. Recently, I tried to help a neighbour get a cheaper energy deal. She doesn't have an internet connection or mobile phone and pays for everything in cash. Switching suppliers proved to be a step too far, so I provided her with details of her supplier's cheapest tariff and a telephone number to call. I even offered to listen in to the call. The issue for her is one of confidence - not laziness. Despite my best efforts, she is still on a SVT.
I have, though, had one success. When she wants to buy something she knocks on my door to see if it is cheaper on Amazon. If it is, she will let me order it for, and she pays me in cash! I am sure that there are 000s of people out there just like her.
My local "friendly" window cleaner charges my neighbour £15, which apparently went up from £10 about a year ago, then £12.50 six months ago. I phoned to get a price and he wants £10 from me, for the same size house.
Same with my local "friendly" garage. I booked a service online through a comparison site for £109, but when I phoned they wanted £179 for the same thing.
The Energy industry is NOT included in the super-complaint.
So well done to them and keep up the good work I say; :beer:
....come on folks, let’s hear it for the Energy companies!...hip-hip....hooray!...hip-hip....etc etc.
My mother was exactly the same.
It was only when she was diagnosed with dementia that I took over the running of her finances, etc and sorted it all out, otherwise she would've been on BG's SVT probably paying twice as much.
These people need to have some kind of automatic protection. The energy price cap is a step in the right direction.
Although not part of the Super Complaint, the energy companies still allow vulnerable people to remain on high SVT's so I think it is only right that they should be included in this discussion.