Prices up…prices down

EON DD discounts.

Eon announced yesterday an increase from 4% to 7% for Monthly Direct Debit and from 2% to 5% for Quarterly Direct Debit. This is good news in the light of the increases by some suppliers earlier in the week. These improved terms may see EON take a larger share of SME market.

Sam and Joe, our Account Managers, will always prepare our client’s tenders based upon payment by Direct Debit to help them maximise the discounts available. If you wishes to pay by cash/cheque/BACS payment please let us know when we prepare our reports.

Scottish Power In contrast…

On Wednesday, and in stark contrast to Eon, Scottish Power increased their cost by 6%. “The largest increase we’ve seen so far” commented Hull based Account Manager Sam Woolston when notifying the Management Team.

Recognition of the importance of our relationships

Utilitrack Ltd’s CEO Enzo Testa recently attended a Cornwall Energy conference and reported: “There are some very interesting stats that show the growing importance of TPIs like Utilitrack in the SME market, which is why all the suppliers wanting to work with TPIs like us, instead of going to the SME market direct. [The suppliers] have finally recognised the importance of the relationships that TPIs have with their clients. This recognition has been driven by the fact that 80% of the I&C (Industrial and Commercial – the large users) market is controlled by TPIs, making it a highly competitive market place and suppliers can see this happening in the SME market”.

“There has been massive increase in the number of suppliers to the B2B market and everyone is fighting for market share. Particularly interesting is the rise of British Gas, Haven, Scottish Power, Gazprom, Smartest Energy over the past 6 years 2010-2016”.

“The suppliers have had their profit margins squeezed and are therefore looking to introduce new products and added value services to their portfolio to supplement this shortfall”.

Utilitrack will be providing these added value services as part of its offer to brokers and their clients…further updates to follow.

EDF and Scottish Power call for wider review of sales tactics…part of a £47m fine

EDF and Scottish Power have called for a wider inquiry into sales tactics by the Energy and Climate Change Committee (ECCC), following allegations from the media that SSE used scare tactics and misinformation to keep customers reports Saffron Johnson in Utility Week.

The ECCC published responses to its review of sales tactics by the largest energy suppliers, in which EDF and Scottish Power urged the committee to broaden its inquiry to include smaller suppliers, third party intermediaries and price comparison websites.

“We cannot achieve this alone, it requires the entire industry to consistently uphold the highest standards. This is why we encourage your committee to broaden the scope of this inquiry… To improve the service delivered to customers, we should all face the same scrutiny,” EDF said in its letter.

Scottish Power noted that in the latest statistics from Energy UK, 43 per cent of all switched in April were from larger to small and mid-tier suppliers, suggesting that for this reason “it might, therefore, be useful for the committee to take a wider industry perspective and review practices across a wider group of suppliers.”

SSE was accused of using unfair sales techniques including scaring customers about switching in May 2016 and a probe has been launched by Ofgem to investigate.

Historically sales tactics have contributed to the energy sector being fined a huge £47m in 2013-2014 (the latest figures available).

Utilitrack is very keen to support any move to improve standards within the industry. Unprofessional sales practices get all TPIs a bad name and such businesses that condone such activity need to be called to account for their actions.

Utilitrack is proud to be an accredited TPI under The Code of Practice www.tpicodeofpractice.co.uk

Prices set to rise as fixed deals end

Domestic customers could see energy prices rise by up to £265 per year as several dual fuel tariffs end this summer, according to Gocompare.  Consumers on nine of the 16 dual fuel tariffs ending on 30 June will see their energy bills rise as they are automatically rolled onto their supplier’s standard variable tariff.

Time to review your domestic tariff? With a copy of your bill to hand and a few clicks of your mouse you can check your costs at http://www.utilitrackonline.co.uk/home/