Quote:
Originally Posted by RichardCoulter
All else being equal, i'd still try out some of these new small companies. In the event of them collapsing, the supply isn't cut off and any credit is fully protected.
Last June, Ofgem stated that they were looking for new entrants to the market to be verified as having a sustainable business plan; Martin Lewis has also urged them to apply a 'fit and proper person test'.
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Their collapse is just about the only time you are protected though. In the interim, they’re stumbling along, over-charging people, promising refunds which fail to appear and generally causing stress. And Ofgem does little of note until things are about to blow up in their face anyway. Funny how this company was in the news one week because Ofgem is getting tough on them, and the next week the company’s bankrupt anyway. Almost as if the regulator is acting tough because they’re guaranteed there won’t be any push-back or follow up.