Energy supplier
- Thread starter nowuckinfurries
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langland
Elite Member
From what I have just read this morning, there will not be any energy companies offering cheaper deals ever again.
Ofgem have ruled that if I switch from my current supplier to a new supplier, the new supplier has to pay my current supplier a fee, and then for every unit that I use with my new supplier, they have to pay the difference in cost to my old supplier. So if my monthly cost with current supplier is £100 per month and it's only £50 with my new supplier, then my new supplier would have to pay my old supplier £50 per month. Who knew that we now live in an energy dictatorship ?
Ofgem have ruled that if I switch from my current supplier to a new supplier, the new supplier has to pay my current supplier a fee, and then for every unit that I use with my new supplier, they have to pay the difference in cost to my old supplier. So if my monthly cost with current supplier is £100 per month and it's only £50 with my new supplier, then my new supplier would have to pay my old supplier £50 per month. Who knew that we now live in an energy dictatorship ?
Link please.
langland
Elite Member
Money-saving expert MARTIN LEWIS shares tips to survive the crunch
And Ofgem, the regulator that should be helping families, is not, he says. Last week, he called the watchdog a ‘f****** disgrace that sells consumers down the river’. He apologised to Ofgem staff, but said he stood by his ire at the organisation over changes to the price cap that penalises firms trying to offer cheap fixed deals.
He said: ‘If prices drop, a company who wants to offer a cheaper deal has to pay your old supplier to take you and has to pay much of the difference in wholesale prices to the old supplier.
‘Now, clearly, that is a monumental disincentive from companies offering cheaper deals.’
And Ofgem, the regulator that should be helping families, is not, he says. Last week, he called the watchdog a ‘f****** disgrace that sells consumers down the river’. He apologised to Ofgem staff, but said he stood by his ire at the organisation over changes to the price cap that penalises firms trying to offer cheap fixed deals.
He said: ‘If prices drop, a company who wants to offer a cheaper deal has to pay your old supplier to take you and has to pay much of the difference in wholesale prices to the old supplier.
‘Now, clearly, that is a monumental disincentive from companies offering cheaper deals.’
I wonder if you could cancel your supply and then get somebody else who lives at the address to sigh up in their name with a new supplier.
This ruling seems to be trying to stop suppliers competing against each other and the only reason I can see is to stop suppliers offering discounted energy that could end up causing them to go under.
Its not 100% they have to cover it all. Re read it. If I Iistened to that twat Lewis I would be stuck with massive bills. Glad I ignored him and fixed for 3 years
I think a lot of Martin Lewis’s advice is pretty helpful tbh but not all of his advice is going suit everyone’s situation. You where lucky you got a deal with a company that didn’t go bust.
Top 5 company not lucky, could still go bust though.
Lewis mis advised everyone badly last summer and has not apoligised either.
