Outfox The Market Direct Debit changes

editor1

On previous dealings with OFTM I'd have given maybe 2.5 Stars, given what we know now, they are down to one star, however, on cost factor alone, that actual unit costs they are four star. Again, cheaper energy costs come with risks, if you can't accept the risk pay higher charges, in my instance we are talking a minimum 12 quid a month more with the next cheapest provider when i joined in late March and 20 quid cheaper per month with any of the big boys detailed above - for a 20 quid a month saving i'll take some risk and just hope they survive until the end of March, after that can change again but will pay more in costs as both gas and electricity have increased big time since my last swap in march this year.

wild666

gb908010 wrote: »

I switched on October 1st and had nothing but trouble, they have incorrect meter readings as my opening readings and have claimed my old supplier is disputing them. I phoned my old supplier and they are not disputing.
Consequently oftm have increased dd from £85 too £152 a month. I wanted them to reduce but they said they would ask the finance department.
I’m cancelling my DD as I’m not getting any sense out of them , I am owed credit from old supplier but won’t receive it until oftm accept the meter readings.
I am paying for energy twice as my opening readings are wrong and thus my dd has doubled because of the false readings.
I am going to swap to a fixed tariff which may be more expensive but I don’t care as these are useless, couldn’t organise a bun fight in a bakery.

How do I complain to ofgem as I’m owed money and being treat like an idiot

gb908010;75076838 were you with British gas on a free energy plan by any chance? That would involve getting a smart meter. They did this to me when I jumped to them before my plan had expired and the reading I gave them was 1844 more than BG gave resulting in a first bill for over £250 after they had taken the monthly DD off. It took 7 months to get it to, what I thought was, sorted only for them to use the free readings as my meter readings and they are still doing that now even though I sent them some quite detailed emails explaining what I thought was the readings they should be using. I used to email them the Total, Act 1 and Act 2 readings plus gas and some months they even forgot to put in the gas readings. That is basically why I am dumping them and the fact they are charging me £10.47+ VAT as a monthly fee when I should be paying £8.99 (£9.61), they are a cowboy outfit

BedrockFred

OFTM are not cheap enough for me to stay and I think they will struggle to stay afloat after the latest screw up


I have a fixed deal thats not much dearer and certainly not dearer by £12 pm what with the upcoming price increase and the latest membership fee increase it's going to cost me around £1 per month, and expect another increase from OFTM early in the new year......

editor1

My folks signed up to the Zapp 18 Month Fixed-Deal OFTM offered in the first quarter of this year, they joined as High electricity users paying £10.99 membership fee per month, which was certainly cheaper than the Standing Charges we got with OVO Energy and First Utility - despite all changes, our Policy remains the cheapest Fixed deal and remains cheaper than any deal offered via the Cheap Energy Club - that's Fixed deals and not a regular one which might save us a pound or two. Again, I've not had it so bad with them and the folks actual energy usage goes up to £200 a month if it gets really cold, so what credit we have, even paying increased DDs will be eaten away within 3-4 months, so, we'll be sticking around until they go to the wall - at least i'm aware of the issue and can quickly change the folks over to a new supplier if they do hit the wall.

Further, remember exit fees in your calculations. Again, if another business could offer the folks a monthly charge of £90 for their actual energy usage I'd leave, that all Plans are coming out above £100 means financially we are better off staying.

Once more this does not excuse their crass business acumen, but in the real World our deal is the cheapest, so as long as its honoured 100% we'll remain until our Fixed deal expires, then I'll look at First utility again and see if i can get a good cash back, our last deal we got £120 back from Quidco, which is why i changed from OVO energy, whom were a good business.

MadMat

Another point to factor into your calculations - if/when OFM do go belly up you are likely to spend a month or two with one of the big 6 on standard variable rate while the dust settles and you organise a switch to another budget supplier . . .

editor1

Even if this is the case, my calculations have demonstrated a considerable cost saving starting April 2nd this year, we'd still be in the Black if moved to a far higher rate with one of the legacy players for a month or two.

Moral of the tale, if you are impacted negatively by events at OFTM then move, although any switch-over efforts now may threaten any credit you have with OFTM should they hit the wall in the next month to two - my advice is stay the course if on a 'Fixed' deal and leave if on a variable, i.e., sign-up to the MSE Energy Club two year fixed deal.

wavelets

MadMat wrote: »

Another point to factor into your calculations - if/when OFM do go belly up you are likely to spend a month or two with one of the big 6 on standard variable rate while the dust settles and you organise a switch to another budget supplier . . .

I think anyone with any understanding in this field will discount your post as at best wild speculation, and at worst scaremongering.

There is no evidence in any previous case of a supplier ceasing to trade for either possibilty you invite others to consider. Indeed, it would also involve Ofgem to fail to act as they say they will, and indeed have done on all previous occassions.

hubb

I am in credit with OFTM and haven't given a reading for a while as my confidence in their accuracy is low. I could leave for a fixed 12 month deal with GNE for an extra £9 a year (of course OFTM will be putting prices up very soon again) so it's a tempting offer but I really don't think that my credit would be refunded by OFTM if I left so its a conundrum.

It doesn't seem so long ago since the government had all the energy companies jumping through hoops for the customer due to a clampdown on unfair pricing. You would ring up a supplier and by law they had to tell you of a cheaper company you could go to before you signed up to them. Now it seems like it's going back to the days of the wild west. A bit like crime in Britain.

editor1

All this negative stuff about OFTM is getting a bit mad - my folks are both elderly, neither can use a computer, OFTM take meter readings over the phone, these phoned in meter readings made by my mother, who's over 75 are correct and inputted correctly, our account is all in order.

Obviously persons have concerns, obviously OFTM has made some crass moves this year - its electricity banding earlier in the year and DD debacle this month - all companies make mistakes, however, OFTM have been a reasonable business to deal with my end and remain competitive - I hope they survive and hope its management learn from their mistakes, however, the last thing we need is a market composed of the legacy operators and OVO Energy/First Utility.

Again, my issue is not with these businesses, rather its with the Regulator & Government who have allowed small, undercapitalised businesses to enter the market, this needs tightening up quickly, but lets not allow fear mongering to Rule the Roost or you get a complete market panic.

Scatty

hubb wrote: »

I am in credit with OFTM and haven't given a reading for a while as my confidence in their accuracy is low. I could leave for a fixed 12 month deal with GNE for an extra £9 a year (of course OFTM will be putting prices up very soon again) so it's a tempting offer but I really don't think that my credit would be refunded by OFTM if I left so its a conundrum.

me too. I've cancelled my switch to them, rather wait until Spring when I've been with them a year (correct usage) and my credit has been (mostly) used up.