Recent Economy Energy reviews & complaints info
As former customers deal with the aftermath of the provider shutting its doors, we break down Economy Energy reviews to see where the company went wrong. Do customer reviews show it was a closure waiting to happen, or were they generally happy with Economy Energy as their provider?
Economy Energy reviews
As of January 8th 2019, Economy Energy is no longer trading, but some customers are still dealing with the fallout of the energy supplier’s questionable business tactics and slow-response rate to complaints.
For more insight on why the company failed, we take a look at Economy Energy reviews, Trustpilot ratings and how customers can pursue ongoing Economy Energy complaints now the provider has closed.
1. Customer service
One of the key factors to bear in mind when looking at Economy Energy customer reviews is customer service, including how the company interacted with its customers and helped them resolve any problems, issues or questions.
According to reviews on Economy Energy left online, the supplier’s treatment of its customers was exactly what you would expect from an energy provider that was closed down after an investigation into improper conduct. That is to say, Economy Energy reviews have been scathing - and for good reason.
Below we’ve examined some of the recurring themes that plagued Economy Energy’s customer service.
Money owed to customers
One of the worst offences possible for any company is to agree to reimburse a client and simply never do so! Unfortunately, Economy Energy reviews show an alarmingly high number of customers experienced this. Many report a customer service agent assuring them they would be refunded, only to have the company never deliver on the promise and break the trust that decent customer service is built on.
If this happened to you, our condolences. The good news is that even though Economy Energy has now ceased trading, you will still receive the money owed to you. Ofgem has declared Ovo Energy as the supplier of last resort, meaning Ovo has inherited both Economy Energy’s customers and its fiscal responsibilities. Luckily for everyone involved, Ovo customer service is a cut above when compared to Economy Energy.
If you are still not satisfied with your customer service, you don’t need to stay with Ovo either. Give us a call today and we can help you switch to a provider with top-notch customer service.
Service for prepayment customers
The former supplier claimed to ‘level the playing field for prepayment customers’, so were Economy Energy UK reviews left by prepayment customers positive?
Unfortunately, it seems like much of the unpaid money mentioned above was actually owed to prepayment customers. Many customers complained that their prepayment meters mysteriously shifted from having credit to owing money with no explanation, and efforts to find out why were met with endless waiting times, transfers and overall poor service.
When your prepayment costs rise to more than double within a month... despite not using more gas or electricity than normal [it] is very suspect. Last time I change supplier from some guy on a doorstep. Very suspicious company in my experience.
Prepaid customer reviews of Economy Energy also mention dramatic unexplained price changes. Efforts to find out why these increases occurred were also met with the same poor service and unanswered questions.
If you were an Economy Energy customer with a prepayment tariff, you will be transferred to Boost Energy, not Ovo Energy (Boost is Ovo’s dedicated prepayment brand). This means Boost Energy will be in charge of repaying any owed credit.
2. Value for money
In addition to customer service, one of the most important factors that affect customers’ perception of a company is the perceived value for money: Are the services it provides worth the price?
Economy Energy UK reviews reveal most customers were less than thrilled with the company’s prices and overall value for money. As we noted above, the company was plagued with customer service issues, which meant customers were not getting a good service for the prices they were paying.
Moreover, the provider's prices weren’t particularly competitive, being only a tad cheaper than the official price cap set by Ofgem. So, in general, customers were paying high prices for bad service - it’s not hard to see why reviews on Economy Energy are mainly negative.
While Ovo might be better value for money than Economy Energy, it is still not one of the UK’s cheapest providers. Customers who have been transferred to are under no obligation to stay with the supplier. If you would like to find a cheaper deal, use our energy comparison tool to compare providers or give Selectra’s energy experts a call on 02039 360059 (Monday to Friday 7am-8pm).They can help you find a cheaper tariff.
3. Bills and account management
Managing and communicating accurate bills is crucial to the success of any energy company. Unfortunately, this is another weak point for Economy Energy expressed in UK reviews.
Customer after customer has complained about receiving confusing and surprising bills. According to Citizen Advice’s Economy Energy review in 2017, numerous customers reported problems with inaccurate bills and billing errors.
To make matters worse, this was often accompanied by an inability to contact the supplier to resolve the issue. In one Economy Energy review, a customer reported trying to get in touch with the company for 5 months (with no success) to try and get an accurate bill!
Worst company ever! Just make bills up and no procedures to solve complaints.
Economy Energy complaints
With poor customer service and billing practices, it shouldn’t be a shock to learn that Economy Energy complaints were commonplace. Moreover, reviews and complaints data suggest that it was not efficient at dealing with them. Complaint handling procedures were nearly non-existent which meant complaints were rarely satisfactory resolved.
Discrepancies in the company’s complaint handling was one of the primary motives for Ofgem’s investigations. The energy regulator described the provider’s process for dealing with complaints as ‘unacceptable’, before banning the supplier from accepting new customers for three months and eventually shutting it down.
You can longer contact Economy Energy to pursue complaints. While Ovo Energy has taken over all of Economy Energy’s financial responsibilities, it is under no obligation to resolve any ongoing customer complaints. If you have an ongoing, you should still contact Ovo to discuss the issue as the provider may be able to help you resolve it. If not, you should get in touch with the Energy Ombudsman.
UK review rankings: Trustpilot, Which? & Citizens Advice
For previous customer reviews on Economy Energy, including some from 2016, 2017 and 2018, let’s take a look at the Economy Energy reviews we can find on Google.
Customer reviews of Economy Energy on Trustpilot are quite mixed. The supplier had an overall rating of 2.7 out of 5, with 49% of customer reviews rating it as ‘excellent’ and 30% rating it is ‘bad’.
The number of positive reviews is quite surprising considering the poor customer service, billing and complaints handling we have mentioned above. There are a number of explanations for this:
- Most of these positive reviews are Economy Energy reviews from 2016 and 2017, so it may just be that these comments were left before the supplier started to develop problems.
- Economy Energy’s referral scheme. Economy Energy offered its customers a referral scheme - customers that successfully recommended their friends to the supplier were rewarded with £20. This could mean that a number of positive Economy Energy reviews were simply down to customers wishing to convince their friends and family of the virtues of the supplier for their own personal gain.
- Since the announcement that the energy supplier is no longer trading, several Economy Energy customer reviews are five-star on, not because customers were happy with the service, but because they were so pleased with the downfall of the company!
5 stars why? Because this awful company has got its just desserts and gone bust. Worst customer service ever.
As Economy Energy is no longer trading, Which? has removed the supplier’s customer review and score from its annual rankings. However, with a bit of research, we’ve recovered the Economy Energy review from 2017/2018.
Which? also breaks down the supplier’s scores by category in order to see strongest and weakest points (value for money, bill clarity, bill accuracy, customer service). Economy Energy did poorly across the board.
The Citizens Advice Economy Energy review of July to September 2017 (the latest one we could find), saw the provider finish bottom of the table. With a miserable score of 1.8 out of 5, the signs were already placed that the supplier was not performing well and customers were not happy.
Seeing as Economy Energy is no longer trading, it’s easy to have low expectations of the energy supplier. Looking at the supplier reviews, those expectations are quickly confirmed.
While Economy Energy may not have been the worst energy supplier on the market, it was also far from the best - it will hardly be missed. In the end, based on low marks for customer service and bill handling, we awarded the energy provider 2/5 stars.
Economy Energy Selectra score - ★★