Auto-switching site Switchcraft, said that with so many customers moving to suppliers and tariffs they had not chosen “the industry is in crisis and the regulator needs to step in”.
Research by Switchcraft, found examples of properties listed on Homes 24, a listings site owned by Zoopla, and OpenRent which claimed to have a higher energy efficiency rating than they actually did.Read more The Telegraph March 16 2020
Switchcraft.co.uk, added: “If consumers think the cap will protect them from paying over the odds for energy, they are sadly mistaken.”Read more The Sun February 12 2020
Switchcraft, added: “British Gas customers will now see £409.5 million added to their energy bills as a result of the price hike.
‘It’s become so easy to set up an energy firm’: As the bubble bursts, will your supplier be the next to go bust in the challenging year ahead?
Switchcraft, says: ‘There’s a real risk of further bankruptcies. It’s become so easy to set up an energy supplier that many new ones have emerged without a realistic business plan or proper funding.’
That startup idea was Switchcraft, an online service where customers enter their details once and are automatically moved to the best possible energy deal.
Andrew Long, founder of another automatic switching site – Switchcraft – said that the cap had already led to a clustering of prices.
New automated switching services will not only find you the best deal, but do the boring admin too