Outfox the Market (OTM) – Energy supplier!

It would seem that OTM will be another casualty in the energy suppliers war! It’s quite likely they are going the same way as SPARK and OneSelect.

From a personal experience, OTM have tried making some pretty stupid changes over the past few months and the backlash from customers has caused U turns. About a month ago they introduced a change to the DD, where people pay a hiked up payment for the winter months and a reduced amount for the summer months or that’s what they tell us.

They are saying that they want people to pay up front for the (estimated) energy used but have tried to do this by the back door and have not been open and honest about it.

People generally pay a DD where the expected energy use for the year is estimated and broken down into equal monthly payments, this means that most people should be in credit, come the winter months – bit of a no brainer! This means that people are already paying up front for energy!

For the past month, OTM appear to be ignoring emails and webchat messages and are hell bent on grabbing hiked up DD payments; even creating additional DD’s with higher amounts. They seem to have enough staff to keep sending out changes to DDs with even higher amounts but so far they appear to be only taking one payment, using a new mandate.

This suggests to me that they are in financial trouble and are unable to pay their way. All things considered, it would seem that the senior management at OTM don’t understand the business and should be replaced by those that do; preferably by people that also know that customers are the business!

People on a “varied plan” can swap to a new supplier quite easily but those on a “fixed plan” will have to pay £50 to leave, even though OTM have broken the terms of the contract!

I don’t think OTM have shot themselves in the foot again, this time they have blown the foot off!

The “Direct Debit Indemnity” scheme operated by the banks is a useful tool!

UPDATE OCT 2019

We have had our ups and downs with OFTM, which resulted in us cancelling the DD but it seems OFTM put their brains into gear and stopped the ridiculous hiking of DDs. We agreed a monthly amount (based on actual meter readings that we record in a Spreadsheet) and for the past few months, we have had no problems. They are still the cheapest supplier so at the end of our fixed “whack” tariff, we decided to renew and are now on the Fix D tariff. I think they have got their house in order but I’m still watching them like a hawk 🙂