The voice of serious concern has been raised in parliament stating six major UK energy suppliers punish consumers for loyalty.
MPs have started a debate last week stating the big energy firms often switch the customers on to more expensive deals with variable rates after their lower agreed tariffs expired. This is being done without the customers’ being informed of the change. Energy suppliers tend to do that on a regular basis, making the “rip off” tactics a systematic practice in the business.
This sort of exploitation does not happen in any other industry, noted John Penrose, with the long term customers suffering much higher energy bills compared to new customers.
Former Tory minister introduced a “relative price cap” scheme with the aim to protect the most loyal consumers of leading energy suppliers. The proposed solution will regulate transfer to a new tariff which cannot be more than 6% more expensive than the last one.