Energy Company’s

[Filo]

Ate they taking the piss, my current supplier has just sent me an email telling me my direct debit needs to increase from £87 per month to £166 per month. When I looked deeper into the new figures they were going on their projections of 7 months and not 12 months, i can understand that in a way because I was on a fixed tarrif until August, but when I calculated my direct debit it came out at £103 per month, when I got in touch with them they said the projection was £133 a month, so I asked why they have sent me an email demanding £166 a month, they have no answer for that. Anyway I have said I’ll pay £110 a month and if it needs reviewing I’ll review it, they agreed to that, but I still think they were trying to have my money in their bank and not mine

[big fat yorkshire pudding]

Most businesses do it, as you have you are entitled to say no.  I don't think they are doing anything wrong in doing it but they should be telling you why they've gone with that figure and agree for you to change.

Frankly most people will just go along with it.

[Filo]

Most businesses do it, as you have you are entitled to say no.  I don't think they are doing anything wrong in doing it but they should be telling you why they've gone with that figure and agree for you to change.

Frankly most people will just go along with it.

I think they are trying to drag in money in case they go bust

[BillyStubbsTears]

Absolutely they are doing wrong. They know damn well that the proposed increases in direct debit are vastly more than is needed to balance the account. I had something similar a couple of years ago and it would have left me subsidising the company by up to £250 over 6 months.

It's attempted theft, presumably in order to strengthen their cash flow position.

[big fat yorkshire pudding]

Most businesses do it, as you have you are entitled to say no.  I don't think they are doing anything wrong in doing it but they should be telling you why they've gone with that figure and agree for you to change.

Frankly most people will just go along with it.

I think they are trying to drag in money in case they go bust

Always that risk and quite rightly they'll be looking to have enough cash coverage at the moment, you're always covered if it does go bad so no risk to your money, of course better to have it in your hands at any point.

It's not really theft BST, it works both ways with credit accounts doesn't it?  If I use more than I'm paying I don't have to increase my DD, they're right to try IMO.

[BillyStubbsTears]

By all means they should have the right to increase the DD of someone who is clearly heading towards a deficit. But trying to steal money from people who they know are not heading for deficit is simply wrong. And they get away with it because some people are too busy or meek to query it.

I'm astonished that you think this is fair practice.

[rich1471]

Mine tried to increase my DD even after I explained to them my current deal does not run out till the end of Feb and I'm currently £200 in credit.

[Filo]

My energy supplier is Shell Energy

[River Don]

We had a letter from British gas suggesting we fix our tarrif at something like 30% more than we currently pay for the next two years...

At the moment I think we're on the cap the government have in place while April.

I think we'll stick with that, thanks for the offer.

Fingers crossed they can do something to stabilise wholesale prices by next winter.

[BillyStubbsTears]

Most disgraceful example I ever had was about 20 years ago. Had a fixed rate mortgage with HSBC that was coming to an end. Meantime, interest rates had plummeted and I could get a far cheaper new deal.

One of the HSBC staff phoned me, laying it on thick that interest rates might go up agai , and strongly suggesting that I take their offer if extending the existing deal.

If I'd done that, it would have cost me nearly £10k over five years compared to the deal I got with another bank.

That was attempted theft, working on the hope that I knew shite about mortgages and would trust their advice. Simply appalling behaviour.

I took my current account away from HSBC immediately after that.

[rich1471]

My energy supplier is Shell Energy

so is mine ,wonder how many people they try and do this too

[BigH]

My energy supplier is Shell Energy

Me too after my supplier failed.

I think that's 28 suppliers gone pop this year and well over 4 million customers who've had to transfer following failure of their energy supplier.

Makes you wonder about the nonsense peddled about market forces i.e. letting a bunch of spivvy operators con customers into joining them only to fall over and leave customers at the mercy of the mega-players.

We have a regulator who's meant to be looking after consumers' interests. What on earth are they playing at?

[Filo]

The case for nationalisation is getting stronger by the day

[drfchound]

The case for nationalisation is getting stronger by the day

119 quote by drfchound:
Off Topic / Re: Privatise the profits, socialise the losses
« on: November 23, 2021, 10:16:11 pm »
The way things are going we are likely heading for a government run “British Energy” gas and electricity supplier with no competition.
Probably not too far away really.



We agree on some things then.

[big fat yorkshire pudding]

Most disgraceful example I ever had was about 20 years ago. Had a fixed rate mortgage with HSBC that was coming to an end. Meantime, interest rates had plummeted and I could get a far cheaper new deal.

One of the HSBC staff phoned me, laying it on thick that interest rates might go up agai , and strongly suggesting that I take their offer if extending the existing deal.

If I'd done that, it would have cost me nearly £10k over five years compared to the deal I got with another bank.

That was attempted theft, working on the hope that I knew shite about mortgages and would trust their advice. Simply appalling behaviour.

I took my current account away from HSBC immediately after that.

I can see your point here, I can also see the point of a business not wanting to run the risk of paying out more than it takes in.

Shouldn't there be a regulation on it? The mortgage example is far far worse as they should clearly be advising you to take advice, my bank does and I'm sure that's the regulation too?

[BigH]

It is.

What happened to BST 20 years ago wouldn't be allowed now.

[SydneyRover]

Most disgraceful example I ever had was about 20 years ago. Had a fixed rate mortgage with HSBC that was coming to an end. Meantime, interest rates had plummeted and I could get a far cheaper new deal.

One of the HSBC staff phoned me, laying it on thick that interest rates might go up agai , and strongly suggesting that I take their offer if extending the existing deal.

If I'd done that, it would have cost me nearly £10k over five years compared to the deal I got with another bank.

That was attempted theft, working on the hope that I knew shite about mortgages and would trust their advice. Simply appalling behaviour.

I took my current account away from HSBC immediately after that.

I can see your point here, I can also see the point of a business not wanting to run the risk of paying out more than it takes in.

Shouldn't there be a regulation on it? The mortgage example is far far worse as they should clearly be advising you to take advice, my bank does and I'm sure that's the regulation too?

This is no excuse for screwing over the public and using them as a handy bank.

[rich1471]

My energy supplier is Shell Energy

Me too after my supplier failed.

I think that's 28 suppliers gone pop this year and well over 4 million customers who've had to transfer following failure of their energy supplier.

Makes you wonder about the nonsense peddled about market forces i.e. letting a bunch of spivvy operators con customers into joining them only to fall over and leave customers at the mercy of the mega-players.

We have a regulator who's meant to be looking after consumers' interests. What on earth are they playing at?

I was with Yorkshire electric until it went bust