Ofgem bans Economy Energy from taking on new customers
Ofgem has banned the supplier from requesting one-off payments and increasing direct debits from customers, following a decline in its customer service standards, complaints handling processes, and billing and payment procedures.
The ban will be in place for three months, allowing Economy Energy time to focus on the following: improve its customer contact procedures via email and webchat; address its billing and payment failures; and issue customer refunds in a timely manner.
If no improvements are made in these areas over the three-month period, Ofgem will extend the ban. Ultimately if the supplier fails to improve, the regulator will revoke its licence.
Anthony Pygram, director of conduct and enforcement at Ofgem, said these actions had been taken to protect customers from suffering more harm “from the unacceptable level of customer service provided by Economy Energy”.
“We expect the supplier to take immediate action to rectify its failings or face having its ban extended,” Pygram added.