The investigation by Switchcraft, a service that automatically moves consumers to cheaper tariffs, shows that nearly a quarter of customers’ complaints related to overcharging or having direct debits increased – despite being in credit.
Andrew Long, founder of Switchcraft, warns that there are signs other suppliers could be struggling.Read more This is Money October 18 2020
Andrew Long, CEO and founder of Switchcraft.co.uk, says: “Today’s news about Tonik energy isn’t a surprise given their £8.7m Renewables Obligation debt…”Read more Your Money October 6 2020
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“As the mercury drops, we can be certain that one thing will rise,” Alex Dickson at Switchcraft said.
Another energy supplier goes bust: Toto Energy ceases to trade leaving 134,000 customers in limbo a DAY after Ofgem revealed reform plans
Switchcraft said: “That Toto Energy – a company with an appalling track record – was able to purchase 43,000 new customers only three months ago is dumbfounding.”
Auto-switching service Switchcraft says it is now “survival of the fittest” in retail energy markets.
Auto-switching service Switchcraft claims these deals can lock billpayers into an ‘energy-poverty trap’
Switchcraft, said: “It’s great to see Ofgem on the front foot when it comes to enforcement actions against suppliers.
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”.
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.