Latest News

Shell, Centrica, SSE among 18 suppliers to hand back refunds after account switch overcharging

0

Eighteen gas and electricity suppliers including some of the UK’s biggest household names overcharged more than one million customers switching accounts between 2013 and 2020, regulator Ofgem said today.

The regulator said people switching should be protected from price rises while moving their business, but errors during the switchover process led to

Eighteen suppliers made errors leading to overcharging of £7.2mln.

Some of the biggest names were the worst offenders said Ofgem, with Ovo and Shell (LON:RDSB) among the worst offenders alongside British Gas 9LON:CNA), E.On, EDF, Npower, Scottish Power, SSE (LON:SSE)  and Octopus.

Customers are in line for refunds with companies making compensation payments taking the total to £10.4mln.

Anna Rossington, interim director of retail at Ofgem said: “Customers should have confidence in switching and not be overcharged when doing so.

“This case sends a strong message to all suppliers that Ofgem will intervene where customers are overcharged and ensure that no supplier benefits from non-compliance.”

Several companies reported the issue to Ofgem which then asked all suppliers to check their records.

The average amount overcharged was £6.27 though the figure could be higher on larger bills, said the regulator.

VSA Capital Market Movers – Bacanora Lithium

Previous article

Hiscox slumps into full year loss after $475m of COVID-19 claims

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News