Outfox The Market Direct Debit changes

System

cyka wrote: »

Variables are fine in the sense that your paying for the energy you're using. Outfox increased annual consumption estimation by 20% and increased winter DD by another 75% with some are even higher. Ignoring any credits in the account and no consultation with its cusomters if this was a good idea.

I am not defending OFTM’s decision to hit all customers with a DD increase: it may well do them irreparable damage. However, before people jump ship, it is worth sitting down and doing a full market comparison to see if overpaying OFTM in the short term would actually be better/cheaper than switching to a more expensive supplier/tariff. Suppliers cannot keep overpayments: this would be fraud. Should OFTM call it day, then credit balances are now fully protected.

System

alittleowl wrote: »

The Citizens Advice Bureau has advised me: "If your gas or electricity supplier increases its prices, they should tell you at least 30 days before the change takes place" whereas OtM have only given us 10 days' notice of this change so surely Ofgem could/should get involved?

My account is in credit with them to the tune of £200. On the phone OtM refused to use this to offset my new bill, increased by 75% from last month's, so I've instructed my bank to cancel my direct debit and I'm going to switch, possibly back to one of the Big 6. I'd rather pay a bit more to a reputable company than be robbed blind by a shambolic cowboy outfit like OtM have turned out to be.

A DD increase is not a change of tariff (price increase): it is only a change to your variable DD. CA is correct: suppliers have to give 30 days notice of a tariff change that is disadvantageous to its customers. DD variations only require 10 days notice. DDs are regulated by the FCA not Ofgem.

alittleowl

alittleowl wrote: »

The Citizens Advice Bureau has advised me: "If your gas or electricity supplier increases its prices, they should tell you at least 30 days before the change takes place"

Correction (thanks to thelight on another forum): unfortunately they only have to give 10 days' notice of direct debit changes. In any case, I disagree with their calculations of my EAC which assume with no justification that I will use more energy in the next year than the last. Even if it wasn't Christmas next month I simply cannot afford the new December to April charge which they've invented. Like most people I'm on a fixed income and see the monthly DD as a way to spread the cost evenly throughout the year: build up some credit in the summer, use it up in the winter. I realise they're probably not the only company that is going to bring in these changes but would rather switch to one that isn't doing this at the moment.

cyka

Hengus wrote: »

I am not defending OFTM’s decision to hit all customers with a DD increase: it may well do them irreparable damage. However, before people jump ship, it is worth sitting down and doing a full market comparison to see if overpaying OFTM in the short term would actually be better/cheaper than switching to a more expensive supplier/tariff. Suppliers cannot keep overpayments: this would be fraud. Should OFTM call it day, then credit balances are now fully protected.

Either their margins are too low and are looking for a quick cash injection to cover their costs or some unscrupulous goons run the company. Outfox have had 3 price increases in 2 months (once in November, electrics, and December will be another increase for electrics plus gas).

MoneySavingAtWork

On nov 13th they said my prices were increasing from £536 to £573 for the year based on actual usage then on Nov 15th said my direct debit said my total payment will go to £693 based on an estimated figure.
DD up from £46 to over 80 for winter and £34 for summer
Crazy stuff!

Jondy

Hi hareng.
Just had a similar problem. Managed to contact customer services. “Nothing they can do as its company policy”
Shocking customer service. Supplier change already initiated through the cheap energy club.
Won’t be getting energy from them ever again regardless of price.

Jondy

I believe that this is the case.
Also I am fairly sure that any credit on your account will be returned even if the company goes bust. Can’t find exactly where it says this in law, but almost certain it is true. Will have to search around to find it. I have just started the supplier change and also £177 in credit. You do need to keep direct debit open to get refund as far as I am aware.

VoucherMan

Jondy wrote: »

Also I am fairly sure that any credit on your account will be returned even if the company goes bust. Can’t find exactly where it says this in law, but almost certain it is true. Will have to search around to find it

Here you go

Jondy

Thanks voucherman. :beer:Just done a search and found the same. Good to know it’s fairly easy to find

alittleowl

Jondy wrote: »

I believe that this is the case.
Also I am fairly sure that any credit on your account will be returned even if the company goes bust. Can’t find exactly where it says this in law, but almost certain it is true. Will have to search around to find it. I have just started the supplier change and also £177 in credit. You do need to keep direct debit open to get refund as far as I am aware.

My bank told me that if the direct debit is cancelled then they can't put the refund into your bank account will send the refund as a cheque after the account is closed. Not ideal but that money is already gone from my bank account, I'll get it eventually even if they go bust, and it's better than them grabbing money I don't have just before Christmas.