Are energy comparison sites trustworthy?
It’s been highlighted recently how a handful of websites are not entirely informing consumers which products they are receiving commission on. Companies that are currently registered with Ofgem’s consumer confidence code are required to to implement new revisions no later than the end of March.
It comes in force as a proportion of energy comparison sites are not exhibiting the cheapest deals in searches with many suggesting biased results for users based on the commission they took from specific suppliers. Evidently this harms the entire object of a comparison site, we like many suppliers of energy efficient products always advocate to our consumers that they should not just rely on comparison sites and make at least 3 of their comparisons direct with suppliers as surprising deals can often be found with a little negotiation.
As new rules come into force in a few months hopefully this will assemble a more transparent industry. However it’s good to be in check that you may not always be acquiring the most competitive rate from simply using one comparison site. Some sites including MoneySuperMarket and Uswitch are welcoming the new regulations with open arms, but in fairness they don’t all have to make the changes so please aware. It’s forecasted that the rules are now so firm that some comparison site are likely to abandon the code, frightened that their business will become unfeasible. This is great news for us for the reason that if price comparison websites are executing their task correctly then we will notably be gaining a superior deal. If that means there business becomes less profitable then so be it. If you do use a price comparison to discover your next energy supplier keep an eye out of one that has the advocated Ofgem stamp of compliance.
So what exactly are these new rules?
Revised new rules reveal that price comparison sites must list which suppliers they posses commission agreements with and to crystal clear that they are paid commission on particular tariffs. At present a handful of sites swerve around the rules though asking consumers whether they would like to ‘switch today?’ if they select yes then products that the site earns commission on were displayed rather than if they selected no they there were offered a more keenly priced list. Plainly this is for comparison sites to benefit from consumers seeking to switch energy suppers promptly, with new regulations focusing on stamping this out.
--
My Electric Radiators are established in providing the UK with the latest energy happenings. Additionally they supply energy efficient electric heating systems. My Eco Stores are passionate in helping UK households reduce their carbon footprint and immediately help to reduce energy bills. If you are intrigued then call the largest electric radiator expert today on 01423 881167.