Does OFGEM need to go ?

DavidD1955

My energy supplier offered two price fixes 3 days ago, one was £3800.28 and £5118.51 annually.
2 days ago the lower figure was raised to £4216.63, is this because they knew what OFGEM's price cap would be, so raised it, it seems so to me.

MattMattMattUK

DavidD1955 said:

My energy supplier offered two price fixes 3 days ago, one was £3800.28 and £5118.51 annually.
2 days ago the lower figure was raised to £4216.63, is this because they knew what OFGEM's price cap would be, so raised it, it seems so to me.

Pretty much everyone knew what the cap was going to be because it was based on publicly available data. What is your question/point?

DavidD1955

I hope Martin Lewis investigates this before his show and tells us 'How and Why'

MattMattMattUK

DavidD1955 said:

I hope Martin Lewis investigates this before his show and tells us 'How and Why'

Investigates what exactly? 

Aylesbury_Duck

DavidD1955 said:

I hope Martin Lewis investigates this before his show and tells us 'How and Why'

He doesn't need to investigate anything.  All the information you need is in the public domain, and has been for ages.

The_Green_Hornet

DavidD1955 said:

I hope Martin Lewis investigates this before his show and tells us 'How and Why'

I hope he shows some remorse for the bad advice he has given people. But I doubt it.

DavidD1955

He told us to remain with supplier and not fix, so where is the bad advice

Aylesbury_Duck

The_Green_Hornet said:

DavidD1955 said:

I hope Martin Lewis investigates this before his show and tells us 'How and Why'

I hope he shows some remorse for the bad advice he has given people. But I doubt it.

What was bad about it?  It's easy to be an expert in hindsight, but with the information to hand at various times, the advice always seemed fair to me.  The gist of it seemed to be that staying on the SVR was probably the best option but if you want/need security of payments, take a fix.

What was wrong about that?  It still applies today. 

Did you make the "wrong" decision and are now looking for someone else to blame?

artyboy

DavidD1955 said:

He told us to remain with supplier and not fix, so where is the bad advice

No, he gave an indicative percentage difference where, based on forecasts, it suggested it either was or wasn't worth fixing... and every time I ever watched him, there were loads of caveats about 'best guess only'

The problem here is people thinking he's some sort of messianic font of all knowledge. Use the information he provides sure, but only to make your own decision. And damn well own that decision rather than playing the blame card that is so popular these days.

Aylesbury_Duck

DavidD1955 said:

He told us to remain with supplier and not fix, so where is the bad advice

I don't know, where is the bad advice?

The_Green_Hornet

Aylesbury_Duck said:

The_Green_Hornet said:

DavidD1955 said:

I hope Martin Lewis investigates this before his show and tells us 'How and Why'

I hope he shows some remorse for the bad advice he has given people. But I doubt it.

What was bad about it?  It's easy to be an expert in hindsight, but with the information to hand at various times, the advice always seemed fair to me.  The gist of it seemed to be that staying on the SVR was probably the best option but if you want/need security of payments, take a fix.

What was wrong about that?  It still applies today. 

Did you make the "wrong" decision and are now looking for someone else to blame?

No I fixed thank you. I just feel sorry for the poor shmucks who stayed on the SVT because they see him as some sort of expert.