Avoid being an April fool
As things stand, around 11 million people are in danger of falling for the worst spring joke this year — and it won’t be remotely funny. Yes, by a bizarre coincidence, the energy price rise is due to kick in on the first of April 2019.
British Gas has confirmed price hikes of 10.5%, with all of the Big 6 energy suppliers announcing price rises in the last few weeks. That’s a hit of around £117 for the average dual-fuel household. This raid on your finances is endorsed by the regulator. Ofgem lifted its price-cap this month and suppliers have made the most of the opportunity. You can’t blame them. They are, after all, commercial companies — but it surely shows that consumer protection, as it stands, is a joke.
Ofgem argues that the situation would be even worse if it didn’t exist and that spending roughly £90 million a year on nearly 800 civil servants delivers good value for money. Its vast, glossy, expensive annual report boasts that the regulator is “Making a positive difference”. Most of its senior executives earn more than the Prime Minister, four of them comfortably over £200k and your energy regulator dished out £862,907 in bonuses last year. The average pay-out is roughly the amount of the annual energy bill of the average household — more of course to those on top.
Is this really the best we can hope for — a crude, light, bureaucratic brake on profits reviewed every six months? The scene is set now till October — when the price cap could go up again. Thankfully — there is an alternative. Technology can now tell us what’s available across the board, and advise what’s best for our individual needs. It will flag a false promise or flawed deal and — once unleashed by a one-off nod of consent — it can now move our bills from one supplier to another, repeatedly.
After the initial sign up, Switchcraft involves zero hassle but delivers maximum gains — over and over indefinitely, saving most of our clients an average of £219 a year. No bureaucracy. No taxpayer-funded bonuses. No decadent buildings — just a handful of innovators harnessing technology to be a true consumer champion. So, don’t fall for the joke this April. Why settle for a state-backed price rise when technology could deliver you savings? Check out our website and get the last laugh on 1st April.
