Out fox the market 75% increase!!

System

daveyjp wrote: »

Looks like a company which is desperate to increase cash flow. Time to start asking why that may be.

We all have the right to 'ditch and switch' and it is a policy that I have used in the past. However, if you genuinely do think that the supplier is in trouble then switching away now may just add to your woes. My transfer to a new supplier had just gone through when GBEnergy failed. It took me some months to get my credit back from the Ofgem-appointed SoLR. Given that I was not a customer of either GBEnergy or the Coop, repaying me what I was owed wasn't I suspect very high on customer services' list of priorities. I recall that it took about 3 to 4 months for the money to appear in my account.

joe134

Is this a cautionary warning of things to come?
In the daily mail today, money section, they are advising people to claim large amounts of over payments back, they have to refund it it says !
Doesn’t look like it reading this thread.
Too many companies vying for customers, and running on a shoestring!
And more starting up all the time.
And they all like money upfront for estimated usage.
Energy market has too much competition now, reversal of only a few years ago.
Alright reducing ones bill by x amount, for it only to be sitting in their coffers earning interest.
1.4 billion pounds according to DM article?
Good job saving interest rates are low.
Sorry for those who live week to week, this surely cannot be right.

MadMat

MSE's big switch 12 seems perfectly timed . . . . . . .

joe134

MadMat wrote: »

MSE's big switch 12 seems perfectly timed . . . . . . .

Out frying pan into the fire perhaps.
You pays your money,you takes your chance.:cool:

Lydia42

I'm stuck with the same problem. Currently pay £85 per month and have £168 credit. They want to increase my payments to £149 over winter months!! I've just cancelled my DD while all this is kicking off. I presume if i don't pay this month it will reduce the amount of credit in my account, so i wont have to chase for a refund. Just looked at switching and they still show as cheapest for my usage. Think i will wait for a reply to my email that i sent them, and keep an eye on here to see what is happening. Next cheapest tarrif is £122 more expensive a year so i don't want to cut off my nose to spite my face.

john_gillespie

In the process of switching to Outfox the market
Quoted £57 a month £684 a year
Now had e-mail saying it’s now going to be £862 a year £100 a month in winter and £43 in the summer
Not even completed switch , phone them said it’s going to be a cold winter
Told them I’m not switching to which the reply was gone past the 14 days you can’t cancel
They also said if I cancel direct debit I would be charged £25
Not really sure what to do but found them on the MSE energy club
Time for Martin to have a word with them

Lily3003

I applied to switch on 31 October with a DD promise of £97 month. Did not receive any further info from them till yesterday 2 days after the 14 day cooling off informing that my DD s going up to £176 month! Contacted them wanting to cancel on basis that if had been warned of the increase within the cooling off period then I would not have switched as my agreement to switch was on the original DD promise. Adviser didn't want to know and just I was out of my 14 days. I think they are on some scam. Immoral company. All well and good saying it will be cheaper in the summer but how do they know my monthly amount should be hiked up so much before even getting a meter reading from me. Switching from them immediately. My advice don't consider them at all.

redfox

MSE has an article covering this which you may want to read

https://www.moneysavingexpert.com/news/2018/11/outfox-the-market-hikes-energy-bills-a-third-time-and-increases-/

takman

Lydia42 wrote: »

I'm stuck with the same problem. Currently pay £85 per month and have £168 credit. They want to increase my payments to £149 over winter months!! I've just cancelled my DD while all this is kicking off. I presume if i don't pay this month it will reduce the amount of credit in my account, so i wont have to chase for a refund. Just looked at switching and they still show as cheapest for my usage. Think i will wait for a reply to my email that i sent them, and keep an eye on here to see what is happening. Next cheapest tarrif is £122 more expensive a year so i don't want to cut off my nose to spite my face.

Yea it should reduce your credit quite quickly when you start getting charged the £25 fees for missing direct debit payments :rotfl:

RS2OOO

redfox wrote: »

MSE has an article covering this which you may want to read

moneysavingexpert.com/news/2018/11/outfox-the-market-hikes-energy-bills-a-third-time-and-increases--/

The figures quoted in that article do not match the calculation for the change they are enforcing upon me, despite my account being in credit (up to £100 during the summer Months).

Current Direct Debit:__£82.03
New Direct Debit:
October to March:____£143.55
April to September:___£61.52

The example calculation in the article comes up with these figures:

"Current monthly payment. £82.25 per month. This is calculated by dividing £987 by 12.

New winter payment. £115.15 per month from October to March.

New summer payment. £49.35 per month from April to September."