The energy deals which cut customers off
Some of the UK's biggest energy companies are ignoring their existing customers when offering lower tariffs.
Existing energy customers with E.ON, SSE, EDF and British Gas have found themselves locked out of attractively priced tariffs because those deals are only available to new joiners. In 2014, following a series of energy mis-selling scandals, Ofgem created a rule which effectively banned suppliers from excluding existing customers. However in April this year the regulator announced that it no longer planned to enforce that rule, meaning a new generation of tariffs which ignore existing customers have surfaced.
A group comprising some of the UK's main regulators has released its report into price comparison websites. The UK Regulators Network which includes Ofcom, The Financial Conduct Authority and Ofgem found many consumers don't understand exactly how the sites make money from them. It comes as the Competition and Markets Authority launches its own review into whether price comparison sites actually benefit consumers. Adam Shaw hears from Dermot Nolan CEO of Ofgem who is also Chair of the UK Regulators Network.
Deutsche Bank, which is one of the biggest lenders in Germany, is in crisis. The US Department of Justice wants Β£10.8 billion from it for mis-selling mortgage secured bonds before the 2008 financial crash happened. Peter Hahn, Henry Grunfeld Professor of Banking at the London Institute of Banking and Finance, discusses.
Presenter: Adam Shaw
Reporter: Michael Robinson
Producer: Charmaine Cozier
Editor: Andrew Smith.
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Chapters
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Can comparison sites be trusted?
Some of the UK's main regulators have released a report into price comparison websites.
Duration: 04:49
Exclusive Energy Deals
How most customers could be missing out on the best deals.
Duration: 14:10
Deutsche Bank
How worried should we be about the German banking sector?
Duration: 03:56
Related Links
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Price comparison sites
Energy deals
Broadcasts
- Sat 1 Oct 2016 12:04Βι¶ΉΤΌΕΔ Radio 4
- Sun 2 Oct 2016 21:00Βι¶ΉΤΌΕΔ Radio 4
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Money Box
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