The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksMoneysupermarket.Com Share News (MONY)

Share Price Information for Moneysupermarket.Com (MONY)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 225.20
Bid: 226.00
Ask: 226.40
Change: -2.20 (-0.97%)
Spread: 0.40 (0.177%)
Open: 231.40
High: 231.40
Low: 225.00
Prev. Close: 227.40
MONY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Comparison websites accused of hiding best energy deals

Mon, 20th Oct 2014 10:53

Five of the biggest energy comparison websites are hiding their best deals, The Big Deal has claimed.The company, itself an energy comparison website, alleged that it has found evidence that all the major price comparison websites hide the cheapest deal from customers.Angela Knight, the chief executive of Energy UK, said: "Comparison sites should not benefit from limiting options to customers. Not disclosing commission and not advertising the full array of deals on offer undermines the industry's work to be more up-front with customers."Switching energy supplier is a good way to save money on gas and electricity and comparison sites are a great way to help customers do this. The energy industry is committed to transparency and we expect others in the energy supply chain to do the same.""You won't like what we found," says Big DealThe Big Deal claimed websites use a mechanism to hide deals where they ask users if they want to see deals they can switch to "today" or "now". It said clicking "Yes" filters out all deals which do not earn the price comparison site a commission from the energy company and said that "often these deals are the cheapest"."We also believe this research shows these sites may be breaking EU consumer protection law. We've written to the five biggest sites - Compare the Market, Go Compare, Uswitch, Moneysupermarket and Confused - asking that they stop this activity," The Big Deal said."We've also asked government to take action, the Competition and Markets Authority to expand their inquiry into the energy market to include these sites and the EU Competition Commission to investigate their actions."The group said it had spent 13 weeks looking at the websites and have taken more than 200 screenshots of the alleged tactics.Consumer confidence codeAll five of the accused websites say they follow regulator Ofgem's consumer confidence code, which is being updated."Customers have the clear option to compare plans across the whole energy market on our site," said Uswitch. "We do not pre-select a default answer when giving them this choice, nor do we in any way influence what they should select."It added that it was "fully supportive of Ofgem's decision to strengthen the code".Comparethemarket.com pointed out that suppliers sometimes stipulate which tariffs they wish to sell on price comparison websites, while Moneysupermarket.com insisted its option for customers to filter results to only see products they can buy through the site is "necessary" and displayed "clearly and prominently".Confused.com said its consumers are able to view every available tariff on the market and explained that "some suppliers do not make certain tariffs available through comparison sites, so we give customers the option to exclude these from the results"."Highly orchestrated PR campaign" Gocompare.com lambasted The Big Deal's claims as "a highly orchestrated PR campaign being run by a company with a vested interest in moving customers away from comparison sites to their own collective switching model".It continued: "The Big Deal also makes its money by being paid a commission by the energy supplier to which its customers switch. The main difference being that The Big Deal only shows people a tariff from one provider, whereas Gocompare.com, for example, lets people see over 150 tariffs from across the market."The Big Deal is being very selective in the information it chooses to highlight in its report. For example, it conveniently fails to mention that on every single date researched by The Big Deal in October, Gocompare.com displayed the same cheapest tariff in every region they studied whether the customer had selected to see 'all deals' or just the ones to which they could switch via Gocompare.com. As this is the crux of The Big Deal's criticism of comparison sites, this is a very important omission."
More News
17 Jun 2021 09:36

BROKER RATINGS: Bank of America double upgrades Morrisons to Buy

BROKER RATINGS: Bank of America double upgrades Morrisons to Buy

Read more
21 May 2021 17:54

EXECUTIVE CHANGES: NQ Minerals and PCF CEOs depart; Safestay hires CFO

EXECUTIVE CHANGES: NQ Minerals and PCF CEOs depart; Safestay hires CFO

Read more
16 May 2021 11:10

PRESS: Devon tungsten mine owner plans GBP100 million AIM IPO - Times

PRESS: Devon tungsten mine owner plans GBP100 million AIM IPO - Times

Read more
13 May 2021 16:07

UK dividends calendar - next 7 days

UK dividends calendar - next 7 days

Read more
13 May 2021 11:18

Moneysupermarket.com and Icelolly.com form holiday comparison business

Moneysupermarket.com and Icelolly.com form holiday comparison business

Read more
13 May 2021 10:26

Moneysupermarket's travel business to combine with Icelolly.com

(Sharecast News) - Price comparison website Moneysupermarket.com said on Thursday that its TravelSupermarket business (TSM) will combined with Icelolly.com to enable "stronger and broader travel comparison services across both brands".

Read more
6 May 2021 15:52

UK shareholder meetings calendar - next 7 days

UK shareholder meetings calendar - next 7 days

Read more
20 Apr 2021 09:26

BROKER RATINGS: JPMorgan ups LondonMetric Property to Overweight

BROKER RATINGS: JPMorgan ups LondonMetric Property to Overweight

Read more
20 Apr 2021 09:04

LONDON MARKET OPEN: FTSE down as pound strengthens; UK jobs data mixed

LONDON MARKET OPEN: FTSE down as pound strengthens; UK jobs data mixed

Read more
20 Apr 2021 08:46

Revenue down at Moneysupermarket.com as pandemic disruption continues

Revenue down at Moneysupermarket.com as pandemic disruption continues

Read more
20 Apr 2021 08:12

LONDON BRIEFING: ABF benefits from food businesses as Primark reopens

LONDON BRIEFING: ABF benefits from food businesses as Primark reopens

Read more
20 Apr 2021 07:52

LONDON MARKET PRE-OPEN: AB Foods resumes payout as Primark stores open

LONDON MARKET PRE-OPEN: AB Foods resumes payout as Primark stores open

Read more
20 Apr 2021 07:00

Moneysupermarket Q1 revenues fall 20%

(Sharecast News) - First quarter revenue at price comparison platform Moneysupermarket fell by a fifth as consumers reined in their spending during the latest Covid lockdown.

Read more
13 Apr 2021 15:11

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
7 Apr 2021 14:30

EXECUTIVE CHANGES: Good Energy and Joules pick from Moneysupermarket

EXECUTIVE CHANGES: Good Energy and Joules pick from Moneysupermarket

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.