Allegations that British Gas has been misleading customers over switching fees has prompted an investigation by Ofgem, the energy regulatory body. The allegation states that British Gas has been misleading customers over fees payable when switching providers.
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New research has shown that typically vulnerable households using prepayment meters to pay for their energy are among the least likely to change providers, leaving them continually worse off.
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Almost a third of UK households prefer to have receive support and advice on the phone or face to face when switching energy suppliers, according to research from price comparison site Money Expert.
Prime Minister Theresa May wrote in the Sun this week defending her plan to introduce a cap on standard variable energy tariffs as consumer magazine Which? reports that thousands of customers will be moved onto those very tariffs this month.
Challenger gas and electricity supplier Octopus Energy is launching a new variable tariff that directly tracks wholesale energy costs, rather than charging customers an independent standard variable rate.
The Conservatives have pledged to allow Ofgem to implement a price cap on energy tariffs should they win the upcoming 2017 general election, causing the value of shares in Centrica and SSE to dip.
Following a spate of price hikes from big six energy suppliers, the government has announced that they will be taking “muscular” action to protect consumers.
French-owned EDF Energy has drawn criticism for announcing the second hike in energy prices this year.
Centrica, British Gas’ Spanish parent company, has announced that it will be launching a new unit dedicated to the funding and ‘incubating’ of energy related tech start-ups.
Less than two weeks after Ofgem issued a statement explaining that energy suppliers had no obvious reason to raise their energy prices over coming months, Npower has announced that their dual fuel customers will see bill increase by an average of almost 10% from March.