Suppliers have been in the firing line again with the news that the Big Six have creamed off an extra £1bn every year from customers. But can you blame them? If you’d paid more for your holiday than the chap in the room next door, would you be banging on the travel agents door demanding […]
Complaints about energy suppliers rocket
Energy complaints to the Ombudsman Services have more than doubled since last year. It said the rise in complaints “follows a turbulent year for the energy industry, with mounting consumer dissatisfaction, market investigations and Ofgem imposed sanctions.” Not good news for the supplier’s reputations but worse still, it’s hitting their pockets with average compensation sitting […]
CMA to publish investigation in full
The Competition and Markets Authority (CMA) has overturned its decision to hold back the results of its investigation into Ofgem’s network price controls in a bid to keep the public informed of all factors affecting energy prices. The CMA quickly backtracked after a warning from former Energy and Climate Change Committee chair Tim Yeo with […]
Energy prices at lows not seen since 2010
The market price of UK gas has plummeted to costs seen back in 2010 as pressure is mounting to reduce energy bills. Wholesale gas averaged 47.1 pence per therm, the lowest quarterly average since Q1 2010. The falling oil price down to US fracking and reduced demand in Asia is seen to be a contributing […]
Big Six have been overcharging for years say CMA
The Big Six are in the firing line today as the Competition and Markets Authority released their initial results of a year-long examination of the UK energy market. It transpires that UK households have collectively overpaid by £1.2bn a year for their energy due to average domestic prices being offered by the ‘big six’ energy […]
CMA to deliver verdict on energy market investigation
The Competition and Markets Authority will announce the provisional findings of its energy market investigation today. The full and final report however is not expected until the end of the year. Initial findings show that despite popular opinion, the big 6 will not be dismantled. It was claimed that the larger firms were in collusion to […]
Independent energy suppliers becoming more popular
Consumers are paving the way to a competitive energy market with customers leaving the Big Six in favour of independent suppliers. These smaller companies now hold 12.6 per cent of the dual fuel energy market after rapid growth in the last six months while the Big Six’s market share is slowly dwindling month on month. […]
Big Six breathe a sigh of relief over CMA findings
The Competition and Markets Authority (CMA) were tasked with looking into the structure of the Big Six energy suppliers amid fears they had a monopoly over the energy market. Calls were being made to potentially separate retail and business arms in each of the companies as it was felt they may have been taking advantage […]
Electricity customers hitting the switch in 2015
Over 1.5 million customers have switched their electricity supplier so far in 2015 according to Energy UK. Switching rates hit record highs earlier this year after a governmental ‘Power to Switch’ campaign. The campaign advised consumers that they could be saving around £200 a year by switching helping raise awareness of the deals that are […]
Big Six told to reduce energy costs by Rudd
Bad news for energy suppliers as new energy secretary Amber Rudd has demanded the Big Six cut their energy prices. We’re sure it’s come as a shock to the Big Six as they only recently breathed a sigh of relief at the downfall of the Labour party and their proposed price freeze. Rudd has apparently […]