Disappointing and Exploitative Practices Across the Board."
1) This week, we witnessed a disgraceful move by all six major energy companies—Ovo Energy, Octopus Energy, EDF, British Gas, and others. Despite the financial strain many households are already under, these companies have been given the green light by Ofgem to increase their prices starting January 1st, 2025, on both gas and electricity. What’s even more infuriating is that the daily standing charge fees are set on both sets of meters, at different rates for using gas and for using electricity, and Ofgem has allowed these companies to charge whatever they want.
2) Ofgem’s role in this is equally frustrating. Instead of protecting consumers, they have enabled these companies to set their own daily standing charge fees for both gas and electricity at whatever rates they choose, independent of each other. This means that each of the six energy providers can charge whatever they want for these fees on both gas and electric meters—it's a complete and utter rip-off. Customers will be hit with two different rates for daily standing charges across both sets of meters, and there’s no accountability for these companies to keep their charges fair or reasonable.
3) Ofgem are clearly out of touch with the reality that most customers face. It’s obvious that, whether Ofgem had approved these hikes or not, the energy companies were always going to push for them. This behavior demonstrates just how little these companies value the financial well-being of the people who pay their bills.
4) These actions are not just disappointing—they’re exploitative. The energy companies, supported by Ofgem’s approval, are putting their profits above the welfare of their customers. It’s time for both the companies and the regulator to be held accountable for this unjust burden they’re placing on the public.
1 month ago
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