Former energy salesman of 10 years at large energy company.

secretenergysalesman

We used to get told to tell customers when the wholesale price used to drop, that we couldn't reduce their prices as we purchase Gas 5 years in advance.
Funny how now when the wholesale goes up they still sell back the cheaper Gas in reserves for inflated prices.

No one talks about this, not even Martin.

Ask me anything.
The sector is scam which will do anything to maximise profits.

I worked for the business energy sector and we were on between 50 to 100k 120k was the top earner.
Don't trust a thing they say.

coffeehound

What's known as a price 'ratchet' . .

Thrugelmir

Why would anyone trust a random post on the internet? 

[Deleted User]

I doubt that many - if any - of the smaller/newer suppliers that have gone to the wall were hedging 5 years in advance. Indeed some have admitted that they were not hedging for the whole of the year. Also, some suppliers (eg; Zog) failed because their wholesaler - with whom they were hedged - went into administration.

secretenergysalesman

Ofgem are toothless.
If you have a reserve of Gas which you purchased at the prices 4 years ago.
It would be possible to stop energy companies selling it on at todays inflated prices.

I can't stand by and watch this happen, If all i can do is spill the beans on here then that is what I'll do.

They are mugging everyone off.

secretenergysalesman

[Deleted User] said:

I doubt that many - if any - of the smaller/newer suppliers that have gone to the wall were hedging 5 years in advance. Indeed some have admitted that they were not hedging for the whole of the year. Also, some suppliers (eg; Zog) failed because their wholesaler - with whom they were hedged - went into administration.

So because some smaller fish run their business's badly we have some misguided sympathy for the poor old big 6 sharks?

Those smaller companies do you think the CEO's walked away with nothing?

Defend them all you want, I was in the industry and i know how they operate first hand.

I worked for one of the big 6.

secretenergysalesman

Thrugelmir said:

Why would anyone trust a random post on the internet? 

Ironic?
An energy company apologist.

We used to have a list of prices from base price which was still inflated up to the killer price maximum commission 3 year contract.

It would be like going into a shop and the person selling you a loaf of bread deciding how easy it would be to charge you £8 for it or charge you £1 for it.
Knowing they will get a chunk of the money if they sell it at £8.

If you did leave that shop the next one does the same but maximum is £7.

MWT

secretenergysalesman said:

I worked for the business energy sector and we were on between 50 to 100k 120k was the top earner.
Don't trust a thing they say.

Very different market from the consumer side of things though.

The business sector has been full of sharks for a long time now, so no surprises there.

Ultrasonic

secretenergysalesman said:

Thrugelmir said:

Why would anyone trust a random post on the internet? 

It would be like going into a shop and the person selling you a loaf of bread deciding how easy it would be to charge you £8 for it or charge you £1 for it.
Knowing they will get a chunk of the money if they sell it at £8.

If you did leave that shop the next one does the same but maximum is £7.

Any shop is entirely at liberty to do just this and it wouldn't be some sort of scam if they did. Competition with other shops stops this happening.

It would only be an issue if there were collusion across the energy sector to universally set higher prices. If you feel this happens and you can prove it then please act as whistleblower and raise this with OFGEM etc.

secretenergysalesman

Ultrasonic said:

secretenergysalesman said:

Thrugelmir said:

Why would anyone trust a random post on the internet? 

It would be like going into a shop and the person selling you a loaf of bread deciding how easy it would be to charge you £8 for it or charge you £1 for it.
Knowing they will get a chunk of the money if they sell it at £8.

If you did leave that shop the next one does the same but maximum is £7.

Any shop is entirely at liberty to do just this and it wouldn't be some sort of scam if they did. Competition with other shops stops this happening.

It would only be an issue if there were collusion across the energy sector to universally set higher prices. If you feel this happens and you can prove it then please act as whistleblower and raise this with OFGEM etc.

It does happen, there's been speculation around it for decades.
Also it was relevant with companies folding as the new supplier has them trapped, they have to stay with the new supplier and they can charge the highest rates.
I know this as we had double bubble commission when we took over customers from folded suppliers.

The energy sector has exactly what it wants now, there is no energy market.

Its simply targets, commission, profits shareholders.
Customers are nowhere in the chain when it comes to energy.
They pretend they are, but its rubbish.

Delude yourself that they are just doing what business's do.

And i was a whistle blower and you know how that goes don't you?

[Deleted User]

secretenergysalesman said:

Ultrasonic said:

secretenergysalesman said:

Thrugelmir said:

Why would anyone trust a random post on the internet? 

It would be like going into a shop and the person selling you a loaf of bread deciding how easy it would be to charge you £8 for it or charge you £1 for it.
Knowing they will get a chunk of the money if they sell it at £8.

If you did leave that shop the next one does the same but maximum is £7.

Any shop is entirely at liberty to do just this and it wouldn't be some sort of scam if they did. Competition with other shops stops this happening.

It would only be an issue if there were collusion across the energy sector to universally set higher prices. If you feel this happens and you can prove it then please act as whistleblower and raise this with OFGEM etc.

It does happen, there's been speculation around it for decades.

Speculation and actual proof are two different things. The Competition and Markets Authority has the power to impose fines of up to 10% of an undertaking's worldwide turnover in the last financial year for breach of the UK competition rules prohibiting cartels and restrictive agreements. 

Given that Ofgem agrees with the SoLR a deemed tariff (which recently has been set at the Ofgem Cap), then your statement about consumers from failed suppliers being charged the highest rates is incorrect.  Also, no one is stuck with staying with a SoLR. I was with Zog when it failed, and I switched away from the SoLR (EDF) over 2 months ago.

I gather that you no longer work in the industry that was paying you ‘double bubble commission’ when your company was appointed as a SoLR? If would odd if any supplier paid any commission in such circumstances as Ofgem often takes the lack of referral/marketing payments into account when agreeing a SoLR’s support payment claim.