Energylinx News

September 2017 Monthly Archive

September 29, 2017

Ofgem is consulting on one-day energy switching

LifetimeStock-246610-L.jpgEnergy regulator, Ofgem, has revealed it's currently consulting to deliver 'next day switching' - in a bid to make it easier for consumers to move energy suppliers.

The new rules could mean when a customer requests a switch to a new energy supplier before 5pm, they could be moved to their new supplier the next day - the longest a switch would take is 5 days.

This is a significant improvement on the industry average which is 2-3 weeks and switching to certain energy suppliers can take up to 6 weeks!

Ofgem says this process "can be unreliable and slow", and that it's resulting in putting households off switching due to the perceived "hassle".

"Switching currently takes on average two to three weeks, which compared with other markets already looks slow and out-of-date given rising consumer expectations driven by new technology.

"In a competitive energy market, it is vital that consumers can be confident that they can easily and quickly change their energy supplier, or else they may choose not to do so."

Ofgem has now proposed the creation of a "Central Switching Service" which will enable customers to request a switch by 5pm and be with their new supplier by midnight the following working day. This timeline will be expected from energy suppliers but Ofgem will only regulate energy suppliers to complete the customers switch within 5 working days.

The reform package is expected to deliver net benefits worth between £169 million and £1 billion to consumers.

Wondering what you could save on your energy bills by switching supplier - wonder no more! On average our customers save £401.82*. We offer an online energy comparison service or you can call one of our advisors on 01259 220000.

*20% of all users over the last 60 days (31 Jul - 28 Sep) achieved a saving of at least £401.82

Posted on September 29, 2017 at 10:51 AM

September 21, 2017

E.ON is Saying Goodbye to their Standard Variable Tariff

E.ON has committed to replacing its standard variable tariff (SVT) with a fixed term tariff for any customers that have a smart meter installed. In addition, any SVT customer who already has a smart meter with E.ON will be offered a move to a replacement one-year fixed tariff.

Starting in early 2018 standard variable tariffs will no longer be the default option for people coming to the end of their existing tariff. Instead, customers will have the option to 'roll over' on to the latest version of a fixed term contract. Existing standard tariff customers who have a smart meter, or who have arranged to have one fitted, will move to a new fixed term tariff with the same 'roll over' option or, if they really don't want to, they will have the possibility to opt out and remain on an evergreen variable tariff.

The new one-year fixed tariff will have a price fixed for one year to give customers security. Like a standard variable tariff, this fixed term tariff will have no exit fee and customers are free to engage with the market as they see fit. In the same way as today, customers will be prompted to consider all E.ON's tariffs to choose a new tariff that best meets their needs.

Michael Lewis, CEO of E.ON UK:

"Standard variable tariffs have had their day. Tomorrow is about customers feeling free to engage with the market with tariffs that work for them."

"We believe standard variable tariffs have had their day. Tomorrow is about helping customers engage with the market with tariffs that work for them. We want to take action now to make that happen for our customers and we'll work with Ofgem and BEIS over the coming months to make this a reality.

"For us, smart meters are a key means to achieve this move because they represent a natural opportunity for engagement with our customers and the new technology opens up a world of more accurate billing and greater choice. We'll be ramping up our activity next year so we're able to start taking thousands of people off standard variable tariff each week - added to which, their smart future will begin with a price drop.

"However, this isn't only about smart metering customers. We'll also be working on options for classic meter customers joining us or coming to the end of fixed term tariffs. This is about increasing engagement with customers and having better conversations about what they need from their energy supplier, making sure they have the tools and the knowledge to choose a tariff that best suits their needs."

Interested in switching your energy supply to E.ON? Energylinx offer a free and impartial energy comparison and switching service. You can arrange a switch online or by calling one of our energy advisors on 01259 220000.

All current E.ON customers can register for a smart meter to be installed. They can also select from a range of tariffs such as a fixed term contract or the new Cap and Track tariff so they can see the benefits of a fixed product whilst waiting for a smart meter to be installed.

Posted on September 21, 2017 at 03:07 PM

September 13, 2017

Energy Switching Numbers Soar

New data released by Energy UK has shown that the number of households that have switched energy supplier this year has already surpassed the total amount of customers who switched in the whole of 2014.

Nearly half a million customers (444,653) arranged an energy transfer in August 2017 - 30% more than the same period in 2016. Taking the total number of customers switching energy suppliers in 2017 to nearly three and a half million - surpassing the total number who switched for the whole of 2014 (3.4million).

Customers are benefiting from having a larger choice of energy suppliers, with over 50 energy companies currently in the market. Last month nearly a quarter of all switches (111,932 customers), moved to small and mid-tier suppliers from the larger suppliers.

This follows new data from the regulator Ofgem, revealing that the numbers of customers on standard variable tariffs has fallen by nearly one million in the last six months, following increased activity from energy companies to engage with their customers.

Lawrence Slade, chief executive of Energy UK said:

"The UK energy industry is changing, and at a rapid pace. To see switching increase by nearly a third - an increase of more than 100,000 customers on the same time last year, shows that progress is being made. This is on top of many more customers moving to better deals with their own supplier, a sign of the continued efforts of suppliers to engage with their customers to ensure a fair deal for all.

"There are a record number of companies to choose from, and deals which could save you hundreds of pounds so our advice to consumers is check your deal today - you could save in no time at all."

If your fixed price energy tariff is coming to an end or you're currently on a standard tariff then Energylinx could save you money on your energy bills. Use our free and impartial online energy comparison service or call one of our advisors on 01259 220000. On average our customers save £395*.

*20% of all users over the last 60 days (15 Jul - 12 Sep) achieved a saving of at least £395.14

Posted on September 13, 2017 at 02:14 PM

September 1, 2017

Revised Confidence Code 2017

Today the energy industry regulator, Ofgem, revised the Confidence Code. The revision comes after Ofgem published their decision on the partial implementation of the CMA's 'Whole of Market' remedy and revised Confidence Code requirements in July.

The Confidence Code is a code of practice to govern independent energy price comparison sites, Ofgem oversee the code. Energylinx is a member of the code, along with 10 others.

'Whole of Market' View

Last June, the CMA published their final report into the energy industry. One of the recommendations was that price comparison websites (PCWs) should no longer default to a 'whole of the market' view when a customer completes a quote on their website.

This has now, offically, be rolled out and confidence code members default results page will only include the energy suppliers that they can switch customers to. If a customer wants to view the 'whole of market' then every PCWs result page should have the ability to filter the results.

There has also been a proposed change to the Confidence Code wording to help address concerns consumers may have on whether to trust the results of the PCW. There will be a consultation on new wording to ensure that PCWs provide clear messaging about the market coverage that consumers see in the partial view. This is great for consumers, as it promises transparency and helps builds trust. It also provides the PCW the opportunity to explain the suppliers that they can allow customers to switch to.

Energylinx welcome this decision as it provides our customers with a better switching experience. By focusing the results page on energy suppliers that the customer can switch to and not the suppliers that they will have to go elsewhere for. The customer isn't losing anything from the new default partial view, as they have the power to compare the 'whole of the market' by applying that filter.

Tariff Listed in Price Order

Another decision is that accredited PCWs will have to list tariffs in price order, unless the consumer specifically asks for them to be ordered in some other way.

This is great news as it allows PCWs to add additional filters that can encourage customers to consider different factors such a as supplier ratings or customer satisfaction levels or any additional features rather than just focusing on cost.

Overall today's publication is positive from both the consumer and the PCWs point of view. It empowers the customer to make their own choices on what they can see in the results page and benefits the PCW because they don't have to default the results page to energy suppliers that they don't have a commercial relationship with, but were ultimately providing with free marketing and helping them gain new customers.

You can find the best deal for your energy supplier with Energylinx. Either online or by calling 01259 220000 and speaking to one of our energy advisors. On average our customer save £362*.

If you would like to read the revised Confidence code, click here.

*20% of all users over the last 60 days (3 Jul - 31 Aug) achieved a saving of at least £362.09

Posted on September 1, 2017 at 10:34 AM