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Thread: Millions overpaying for energy

  1. #1
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    Default Millions overpaying for energy

    ... again!

    http://www.bbc.co.uk/news/business-33420734

    bbc - Millions overpaying for energy

    The big six energy suppliers "overcharged" millions of energy customers to the tune of £1.2bn a year, the Competition and Markets Authority (CMA) will say in a report expected on Tuesday.

    Firms reportedly charged households 5% more than they would have in a competitive market.

    The report refers to the period 2009 - 2013.

    The CMA will also propose measures to protect customers.

    One measure is a transitional price cap, while reforms are made to the energy market.

    The big six are British Gas, E-On, Npower, EDF Energy, Scottish Power and SSE.

    The findings will be seized upon by consumer groups as confirmation that the energy market has not been working for consumers.

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  2. #2
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    Default Re: Millions overpaying for energy

    We won't see any of it back though.

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  3. #3
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    Default Re: Millions overpaying for energy

    Here they have three rates, commercial, and two residential rates. One of the residential rates is supposed to be for second homes so is very high, almost 70% higher, but foreigners are being charged it in their main residence. It's very hard to pay the lower rate if you're in rented properties because a lot of landlords are dodgy and avoiding tax on rental income. They've been done for discrimination and some people have managed to get some money back, but a lot keep their mouth shut and pay it so they don't rock the boat with their landlords.

    Luckily our landlord isn't dodgy because he's highish profile so has more to lose and has signed all the forms to help us get the lower rate.

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  4. #4
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    Default Re: Millions overpaying for energy

    I've been with Scottish Power for about 8 years now. Every year they offer me a new deal but before I sign up I go on a couple of comparison sites and put in my consumption data, so far every time Scottish Power has come out as being the best deal, or maybe just a few quid in it making it not worth bothering about changing.

    The only way I can see to cut back on our bills is to actually use less gas and electric.

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    Default Re: Millions overpaying for energy

    I'm going to check now as I am sure we are paying too much. Have been with EDF Energy for about 12+ years, so I think we have lost out by not moving.

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  6. #6
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    Default Re: Millions overpaying for energy

    Done! We are saving £20 a month/£240 a year!

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