Posts Tagged ‘consumer interest’
Who’d have thought that getting Power to the People would end up so expensive? The general public is currently up in arms over news that gas and electricity suppliers are set to increase their prices by up to 20% as of August of this year. And though this has become a political hotspot and a point of contention between the Labour and Conservative parties, more people are focused on the effects this could have on the consumers themselves.
Market experts at Appco Group UK have observed that the rates at which energy prices are set to hike could result in 1 in 5 people finding themselves in ‘fuel poverty’ – spending 10% or more of their income on utilities. Power suppliers however maintain that the increase in costs is reflective of current global energy costs. And, with a greater emphasis being placed on renewable energy sources (which despite advances in the technologies are still more expensive) it looks like a trend that’s set to continue for the forseeable future at least.
Bill-payers currently feel trapped. While not all the gas and electricity suppliers have announced price hikes yet, the biggest names have all suggested that they’re not in a position to avoid them, either. People will want to ensure they’re getting the best deals, but with the industry currently as indecisive as it is – it’s harder to know where to look. People might not be keen to leave one supplier in favour of another for fear that the grass might not stay greener for long enough to make the change worthwhile.
Companies will need to keep a competitive edge and place greater focus on customer relations if they hope to save face in lieu of pending price changes. Sales representatives and customer services will need to be tentative to a now-weary consumer base and have a greater awareness both of what they’re offering and how it’s likely to be received. Now more than ever there shall be an emphasis on building rapport with customer with face to face time being the order of the day. Appco Group UK say the best advice to consumers at the moment would be to explore options fully and take up any offers of information to help you make the best financial decisions for your household.