We’ve recently seen another small supplier in the home energy market cease trading, which once again shows that new entrants into the market have to offer something more than just “low prices” to both gain customers, survive and prosper. In an ideal world each market entrant would have something special about them… something to attract a certain percentage of the population who are looking for something in particular in an energy supplier.
The perfect home energy supplier
If you were going to fashion your ideal home energy supplier, what would you look for? I would bet that a responsive customer service desk would be near the top of your list, along with simple to understand billing and fair pricing. Surprisingly, although UK Customers look to save on energy, cheap pricing is not always paramount – anyone who has gone down this route knows that it can lead to low-quality backup and service. Customers are indeed becoming more aware of energy efficient homes and their personal impact on the environment, so the demand for green energy has seen an increase in the UK market.
The Energy price cap
Is the planned Energy price cap a sensible move, or simply a political gesture past its sell-by date? Some would argue that the market is already as competitive as can be – with some suppliers selling energy at a loss – whilst others would say it still has a long way to go. Either way, if the government see it as their duty to prevent the average citizen spending more than they should, surely there are better targets? What about the cost of cars, petrol servicing; the profits the supermarkets make; train fares? All of these are equally valid, but I am not holding my breath whilst waiting for action. (note: this is not to devalue the absolute need to support those disadvantaged families and the elderly from energy poverty)