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« The lowlife clearances | Main | A new front »
Friday
Sep132013

Europe's top energy policy shambles

Liberum Capital are trying to identify Europe's most disastrous energy policy moves of recent years. There are lots to choose from (but you knew that). Here's one of the suggestions:

Retail Market Review (UK) - in response to some (relatively) minor miss-selling incidents, Ofgem effectively banned door step selling by energy supply companies. Unfortunately, door step selling was by far the most effective way to get householders to switch. Since Ofgem’s intervention, churn rates for the big six energy suppliers have collapsed from mid-teen percent to mid-single digit. This has saved the supply companies many £10m’s in costs and is a key reason why supply margins have risen in the past 18 months. It also probably means that around 2m households that would have switched to more suitable tariffs are now sitting on the wrong tariff. So to stop active miss selling to a few thousand consumers, Ofgem have caused the passive miss-selling to millions.
Read the whole thing. It's just great.

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Reader Comments (15)

I know it's the pedant in me but it always depresses me when major organisations, especially those (government) that have influence on my life and those (eg Liberum) that could have some even remote influence on my finances, can't even bloody spell!
Mis-selling, you clowns; not miss-selling!
And there are a couple of typos that a half-decent proof-read would have caught.
That said, I am only further depressed by the number of times the UK figures in this list.

Sep 13, 2013 at 1:04 PM | Registered CommenterMike Jackson

I nominate Market Review 2 (UK). This was Cameron's schoolboy howler: 'I want all consumers to be on the cheapest tariff..' To which of course the energy suppliers go: 'YESSSS..! Oh. thank you, Dave,,! That means, chaps, that we can scrap all our previous cheap deals and have one expensive one which we state is our 'cheapest'..! Oh, thank you Dave..! Oh, thank you, God..! Champgne all round, eh..?'
You really have to wonder about the level of intelligence of some of those leaving Eton....

Sep 13, 2013 at 1:27 PM | Unregistered Commentersherlock1

Re-naming the Department of Energy to "Department of Energy & Climate Change" must rank highly.

Sep 13, 2013 at 1:38 PM | Unregistered CommenterJoe Public

Difficult to choose which of these catastrophic anthropogenic climate change policies warrants
the number one spot.
Having spent most of my working life in sales, this phrase hit me in the face.
It is reminiscent of the story of the life insurance salesman who was attacked by
a potential customer because the salesman had failed to convince him of the need
to have health insurance.One week after the man had declined the policy, he fell off
a ladder. He was obviously a victim of passive mis-selling

"Ofgem have caused the passive miss-selling to millions!

Sep 13, 2013 at 1:41 PM | Unregistered Commenterpesadia

Ronald Reagan got it right:
Nine words to create panic in everyone's heart..
'I'm from the government and I'm here to help...'

Sep 13, 2013 at 1:46 PM | Unregistered Commentersherlock1

There are plenty more stupid policies that could be added to the list. You have to wonder at how we have got to the situation where we are ruled by so many idiotic politicians and bureaucrats.

Sep 13, 2013 at 1:55 PM | Registered CommenterPhillip Bratby

Energy Company Obligation (UK) is another schoolboy howler..
'Good morning - I'm from the energy company. I want to help you insulate your home. You haven't got double glazing, have you..?'
'Yes, I have.'
'Cavity wall insulation..?'
'Yep - got it.'
'Condensing boiler..?'
'Yep.'
'Top-up loft insulation..?'
'Done it.'
'Draught proofing..?'
'Snug as a bug.'
'But we'll get fined if we don't meet our targets..!'
'Not my problem, mate.. Now if you don't mind getting your foot out of my door...'

Sep 13, 2013 at 2:12 PM | Unregistered Commentersherlock1

I love this- The Green Deal (UK) – a perfectly formed fiasco.

However this really is damaging- Carbon Price Floor (UK) – . The CPF guarantees the UK higher power prices regardless of what happens to energy costs for the rest of the world.

How barking can you get?

Sep 13, 2013 at 2:54 PM | Unregistered CommenterDon Keiller

sherlock

Trebles all round! He really doesn't think these things through, does he?

Sep 13, 2013 at 6:27 PM | Unregistered CommenterJames P

sherlock (again)

A local variation:

'Good morning - I'm from the energy company. I want to help you insulate your home. You haven't got double glazing, have you..?'
'No'
'Cavity wall insulation..?'
'No'
'Condensing boiler..?'
'No, just a woodburner'
'Top-up loft insulation..?'
'Nope'
'Draught proofing..?'
'Wozzat?'
'Fantastic - can I come in?'
'If you like, but I'm a tenant.'

I've lost count of similar conversations with (crestfallen) double-glazing salesmen...

Sep 13, 2013 at 6:34 PM | Registered Commenterjamesp

I like the idea of unsustainable sustainable energy.

“We have to reduce the speed at which Europe is building new wind farms and solar panels. At the moment, it is not sustainable" ...GDF Suez chief executive Gérard Mestrallet:-

http://www.pv-tech.org/news/european_energy_heavyweights_call_for_scaling_back_of_renewables_subsidies

Sep 13, 2013 at 7:13 PM | Unregistered CommenterPMT

Sherlock1
Great posts.

Sep 13, 2013 at 8:00 PM | Unregistered CommenterSandyS

Those funny birdmincers, those hilarious solar arrays paid for by you and me out of our energy bills and similarly, the rib tickling, side splitting carbon [CO2] floor price all make me laugh uncontrollably.


Heavy guffaws and thick with black despair.


Indeed, we are the butt of every green joker.

Sep 13, 2013 at 8:55 PM | Unregistered CommenterAthelstan.

jamesp - LOVE IT..

...and thank you, SandyS..!

Sep 14, 2013 at 2:25 PM | Unregistered Commentersherlock1

Doorstep selling couldn't end soon enough as far as I'm concerned. NPower got my custom by lying to me. My elderly father was screwed by SSE. The practice should have been banned long before it was.

Sep 14, 2013 at 7:35 PM | Unregistered CommenterDaveS

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