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Energy news in general
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Risk there of a perverse incentive - meaning higher credit balances being held and more cost should companies go under.michaels said:They could simply mandate that suppliers had to pay interest on credit balances as Ovo already do.
I'm still an advocate for mandating they must hedge against x% of their customer base's predicted use at least 6 months in the future and that those futures are considered assets to be used to offset SOLR costs.I'm not an early bird or a night owl; I’m some form of permanently exhausted pigeon.0 -
£50 in credit but we haven't had to pay anything to Octopus since joing them in July.
Got a referral code for when we joined, then introduced two others for a total of £150 and because of a mess up with our smets2 meter install and a tariff change to tracker not happening a £75 customer services goodwill gesture.
Should be introducing another two friends to Octopus before the new year so should be close to 6 months completely free energy. Crazy2 -
no one i speak to and i mean no one will go "tracker", the great unknown, its either fixed or SVT as "thats what everyone pays". no free energy for me.
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I thought they effectively had to hedge exactly to the price cap for their svr customers already?ArbitraryRandom said:
Risk there of a perverse incentive - meaning higher credit balances being held and more cost should companies go under.michaels said:They could simply mandate that suppliers had to pay interest on credit balances as Ovo already do.
I'm still an advocate for mandating they must hedge against x% of their customer base's predicted use at least 6 months in the future and that those futures are considered assets to be used to offset SOLR costs.I think....0 -
At the moment, if they don't they they'll get stuck with price changes - but I don't think there's any regulatory requirement for them to do so (or so many of the smaller companies wouldn't have gone under). And I'd include the requirement to hedge for those on fixes - which should theoretically be easier as there's less risk of them leaving until the end of the fix.michaels said:
I thought they effectively had to hedge exactly to the price cap for their svr customers already?ArbitraryRandom said:
Risk there of a perverse incentive - meaning higher credit balances being held and more cost should companies go under.michaels said:They could simply mandate that suppliers had to pay interest on credit balances as Ovo already do.
I'm still an advocate for mandating they must hedge against x% of their customer base's predicted use at least 6 months in the future and that those futures are considered assets to be used to offset SOLR costs.
I'm not an early bird or a night owl; I’m some form of permanently exhausted pigeon.1 -
Energy Ombudsman: Complaints leap by 84% in one year
The Energy Ombudsman saw a huge rise in complaints between April to June - up 84% on the same period in 2022.
Of the 36,823 disputes, the most common concerned gas or electricity use, account balances and meter readings.
A customer can only escalate a complaint to the Ombudsman if their supplier has not fixed an issue after eight weeks or says it is not fixable.
The ombudsman said "the start of the energy crisis [in 2022]" and the cost of living may be behind the rise.
The 36,823 complaints about energy companies accepted by the Ombudsman between April and June is the highest figure for a quarter on record.
On Its website, the watchdog states it "may only see a small fraction of complaints made about a supplier".
The average award given to customers has also rocketed - from £40 for billing complaints in April to June last year, to £126 this year.
The average award for smart meter complaints has risen from £33 to £100.
Energy Ombudsman: Complaints leap by 84% in one year - BBC News
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It's amazing some of the big six/seven make any money.The_Green_Hornet said:Energy Ombudsman: Complaints leap by 84% in one year
The Energy Ombudsman saw a huge rise in complaints between April to June - up 84% on the same period in 2022.
Of the 36,823 disputes, the most common concerned gas or electricity use, account balances and meter readings.
A customer can only escalate a complaint to the Ombudsman if their supplier has not fixed an issue after eight weeks or says it is not fixable.
The ombudsman said "the start of the energy crisis [in 2022]" and the cost of living may be behind the rise.
The 36,823 complaints about energy companies accepted by the Ombudsman between April and June is the highest figure for a quarter on record.
On Its website, the watchdog states it "may only see a small fraction of complaints made about a supplier".
The average award given to customers has also rocketed - from £40 for billing complaints in April to June last year, to £126 this year.
The average award for smart meter complaints has risen from £33 to £100.
Energy Ombudsman: Complaints leap by 84% in one year - BBC News
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That is not actually true, a customer can raise a complaint with the Ombudsman for a complaint that is not resolved in their opinion, the complaint does not have to be valid or genuine, it just needs to be something the customer is willing to drag all the way to the ombudsman.The_Green_Hornet said:Energy Ombudsman: Complaints leap by 84% in one year
The Energy Ombudsman saw a huge rise in complaints between April to June - up 84% on the same period in 2022.
Of the 36,823 disputes, the most common concerned gas or electricity use, account balances and meter readings.
A customer can only escalate a complaint to the Ombudsman if their supplier has not fixed an issue after eight weeks or says it is not fixable.
I would be interested to see what the change in upheld complains is, I would expect that upheld complains do not move too much and there would be a lot more complains that are not upheld.The_Green_Hornet said:The ombudsman said "the start of the energy crisis [in 2022]" and the cost of living may be behind the rise.
The 36,823 complaints about energy companies accepted by the Ombudsman between April and June is the highest figure for a quarter on record.
On Its website, the watchdog states it "may only see a small fraction of complaints made about a supplier".
The average award given to customers has also rocketed - from £40 for billing complaints in April to June last year, to £126 this year.
The average award for smart meter complaints has risen from £33 to £100.
Energy Ombudsman: Complaints leap by 84% in one year - BBC News
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Historic data is published hereMattMattMattUK said:I would be interested to see what the change in upheld complains is, I would expect that upheld complains do not move too much and there would be a lot more complains that are not upheld.
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