Energy firms rapped for bad customer service... while still making mega profits
This is Money Podcast
This is Money
4.1 • 650 Ratings
🗓️ 28 July 2023
⏱️ 50 minutes
🧾️ Download transcript
Summary
The industry as a whole has been blasted by the regulator Ofgem over poor customer service, while our investigation revealed that 200 customers don't think Ovo has been billing them properly.
Meanwhile, British Gas has been in the spotlight for its bumper profits, which jumped by a whopping 889 per cent for the first half of this year.
These firms are certainly making plenty of money - so should they be spending more of it to help their customers?
Lee Boyce, Helen Crane and Georgie Frost ask why things are going so wrong, and what people can do if they don't think they are being billed correctly.
We also look at what's going on with bank accounts. Crisis-hit Natwest is winning the switching battle thanks to its tasty cash incentives, and it’s not just Farage being 'de-banked'.
We hear the story of one vulnerable couple who were left unable to pay bills and buy food after HSBC closed their account.
Inheritance tax has also been in the news, as there are noises it might be scrapped - but the Treasury are raking in even more money from it. Will it go?
Finally, we explain what blended families need to know about making a will - after one woman was forced to bid for her late mother's belongings at auction when her stepfather amended their mirror wills after she had died.
Transcript
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| 0:00.0 | Welcome to This Is Money Podcast. I'm Georgie Frost and joining me and Lee Boyce today is Helen Crane. |
| 0:08.4 | And coming up, Ovo comes under fire again over wrong billing, richish gas is in the spotlight for |
| 0:13.7 | bumper profits and the industry as a whole gets blasted by its regulator over poor customer |
| 0:19.4 | service. Just another week in the world of energy. |
| 0:22.9 | Also today, crisis hit in that West is winning the switching battle. |
| 0:26.5 | And it's not just Farage being debanked. |
| 0:28.5 | Crane is back on the case. |
| 0:30.4 | An inheritance tax. |
| 0:31.5 | There are noises it might be scrapped. |
| 0:33.3 | For the Treasury, it's breaking even more money from it. |
| 0:36.6 | Will it go? |
| 0:37.5 | Don't forget, you can stay up to date with all the latest breaking money news. |
| 0:40.4 | Just go to this ismoney.co.uk or download the app. |
| 0:44.8 | Don't forget, you can stay on top of what's going on in the markets by tuning in to the Digest and Invest podcast by Itaro. |
| 0:50.2 | Go to your regular podcast platform and listen on the go. |
| 0:53.1 | Digest and Invest by Itara, |
| 0:54.6 | the podcast for those interested in trading and investing. |
| 0:57.6 | But first, if you have an issue with your energy provider, you can just get in contact with |
| 1:02.2 | their customer service department and they will sort it out for you speedily, politely, |
| 1:08.6 | well, no, that's not the case. I have personal experience that that's not the case. |
| 1:14.2 | Listen to podcast past. But OffGen has blasted the energy firm's customer service saying consumers |
| 1:20.1 | deserve more in its call for reform of the market. Now, the news comes as one of the largest |
... |
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