MoneySavingExpert founder Martin Lewis has warned about “worrying issues” of energy companies increasing customers’ direct debits disproportionately to the price cap increase, even for those in credit. He told MPs: “There is no reason to double someone’s direct debit when they’re in credit and the price cap is going up 54%.
“That’s not mathematically sound and it’s a breach of licence conditions. “I have been very concerned that a number of companies are doing it to improve their cash-flow situation at the expense of their customers, and I would like to see the regulator crack down on that quite substantially.”
He added: “It’s important to remember that there is no competition in the market any more. This is not a market… no one can switch.”
