FabSwingers.com forum: OFGEM - A F*****G Disgrace

By *rFunBoy OP Man
over a year ago

Longridge

Seems OFGEM have or about to shaft us at a time people will die this winter from fuel poverty.

Any new supplier you may switch to in the future will have to pay your current supplier 85% of what you will no longer be paying, if you switch, effectively protecting the Big 6 as a monopolies.

Ofgem has come under fire for extending rules that will effectively prevent energy suppliers from offering deals that are significantly cheaper than the price cap if wholesale costs fall.

Citizens Advice, the charity, said the changes, which include a plan to change the energy price cap every three months, rather than every six from October, would “make it harder for people to save on their energy bills, even if wholesale prices drop”.

The regulator said that the rules were needed because otherwise energy suppliers that have bought energy in advance for their customers may be unable to recoup their costs and thus, if offered a better deal, your new provider will be forced to pay 85% of what you would have paid to 'prevent their losses' - effectively blocking any possibilities of finding cheaper deals and tariffs when wholesale prices fall and crushing competition..

Hold em high baby..

By *oo hotCouple
over a year ago

North West

Privatisation has been tried and in the case of energy supply - it has failed, and is failing.

Time for change.

By (user no longer on site)
over a year ago

Whole UK energy regulatory model is a joke. Just look at how all the paper suppliers have folded!

Huge gravy train for the insiders.

By *rFunBoy OP Man
over a year ago

Longridge

Locked family into Scottish Power as they can support gas prices with cheap electricity from the windmills.

It's only the energy companies close or linked to suppliers that are surviving as they are able to offset, unlike 'paper' suppliers you mention. They were slammed to the wall and blamed for their demise.

Some were good companies with decent customer services but could never survive the tsunami that hit them.

There's talk of 50% rises again in October and I would not be surprised at 100% depending on supply of LNG for Winter.