Ofgem investigates Economy Energy’s sales practices

Ofgem has launched an investigation into Economy Energy Trading Limited’s marketing and telesales practices. It follows concerns about the supplier’s approach to recruiting new customers. Citizens Advice raised concerns in July relating to “a high level of complaints” against Economy Energy. The company supplies gas and electricity to domestic customers mostly on prepayment meters. The […]

UK energy firm fined £250k for mis-selling

A UK energy firm has been told to pay £250,000 for mis-selling contracts and management failings. Economy Energy did not have adequate processes and procedures in place between October 2012 and December 2013, according to Ofgem. The energy supplier mis-sold contracts during the same period and didn’t make clear to customers that they would be signing […]

Economy Energy under investigation

Small supplier Economy Energy is under investigation for the way telesales staff arranged contracts and to check whether if customers were misled. Energy watchdog Ofgem will look at whether Economy Energy complied with its licence conditions when marketing gas and electricity to customers before February 2014. The firm promotes itself as no frills, stating on its website […]

Economy Energy “blocked customers from switching”

Small supplier Economy Energy was rapped over the knuckles by the energy watchdog yesterday after complaints it was blocking customers from switching suppliers. The company supplies gas and electricity to around 50,000 customers, mostly on prepayment or “pay as you go” meters. Ofgem said the decision to hand out an official warning – known as a […]