[retrotecchie]

@meldrewreborn

The industry needs regulating much better and I don't think OFGEM do a very good job, IMHO. All the companies have their good and bad points. E.On Next are a lot better on some things than others, and worse in other areas. On average, they are all much of a muchness, but things would certainly improve if OFGEM had more 'balls' to regulate on behalf of the consumer rather than seemingly on behalf of the industry. Just heard this morning that their cap from January will be £4650 rather than the £3600 that was expected, and that's with wholesale gas prices half of what they were six months ago.

[meldrewreborn]

@retrotecchie

I've posted a new thread on this morning's announcement.

[retrotecchie]

@meldrewreborn

And big talk about this on the news today. Apparently in 2022, one customer every 16 seconds lost gas or electricity supply due to problems either with the meters themselves or problems topping up.

That's a truly shocking statistic, if true.

[retrotecchie]

link to the BBC article

https://www.bbc.co.uk/news/business-64235997

[meldrewreborn]

@retrotecchie

Yes its shocking. But why are people allowed not pay for their energy when they have to pay for everything else? There is a general problem in the UK with people having no financial resilience (savings) to deal with issue that arise. Payday lenders are little better than loan sharks in my view, but their existence points to the many millions whose outgoings normally match their income, week by week. So when things go wrong (like government vouchers not turning up on time) the anxiety is extreme. But its a problem of our society - not one for the energy suppliers.

I've known people living entirely on benefits who were able to manage their affairs without a prepayment meter. Life on a low income is not pleasant but benefits exist to bring people up to a basic standard of living. Whether people spend their money in a sensible manner is a very subjective matter though.

In a way its a sign that people cannot (or do not want to) manage their money properly. And when they fail to do so (sometimes racking up thousands of pounds of debt) those costs fall onto other customers. I don't like prepayment meters because of the extra burden in administration and inconvenience they put on people, many of whom inherit such meters when they move properties - so entirely unrelated to their ability to manage a credit meter.

If people don't / can't manage their credit accounts properly then prepayment meters are the only viable alternative in my view, but clearly there are rules on when they can be imposed and suppliers must comply fully with them. Equally suppliers should facilitate reversion to credit meters in a simple and straightforward manner when credit worthy customers want them.