Utility companies

[dori2o]

Hi,

 

Quick question that someone will be able to answer for me, I hope.

 

Are energy companies i.e. Brit Gas, Powergen, EDF etc, bund by the Cansumer Credit Act.

 

Have just spoken to my energy company who have advised that they are not bound by that particular legislation.

 

Are they trying to pull a fast one.

[chesham]

As far as I am aware, most are not regulated by the consumer credit act but the majority are bound by alternative legislation or bodies such as the financial services authority and OFGEM.

[buzby]

No. Why should they? They are companies providing a product for consumption by consumers, they do not provide 'credit' to allow people to purchase their product, hence no requirement to be regulated under the CCA.

[Movingon]

Hi,

 

Quick question that someone will be able to answer for me, I hope.

 

Are energy companies i.e. Brit Gas, Powergen, EDF etc, bund by the Cansumer Credit Act.

 

Have just spoken to my energy company who have advised that they are not bound by that particular legislation.

 

Are they trying to pull a fast one.

 

Please point out where your energy/phone/water supplier provides Credit.

 

What they do is bill you in arrears for a specific period of provided service; and they bill you the exact amount used, no more, no less. If your payments add up to less than the amount used, they adjust the payments.

 

This is not "Credit"... credit for services is when your payments for a service take longer than you had the service for, and this is agreed in advance... with energy you agree to pay the entire bill on demand.