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Over50sMoney
Великобритания
Добавлен 4 май 2021
Over50sMoney aims to help the over-50s community financially prepare for, and enjoy, retirement. We provide articles highlighting ways to cut down your bills, understand your pensions, learn to invest your nest egg and how to plan for any later life needs you might anticipate.
Our videos guide you through the functionality of our website and talk through step-by-step guides on things like making an energy switch or applying for a free Pension Health Check.
If you even want to ask us some specific questions which we haven't covered, please reach out to Support@over50smoney.com and we'll try our best to help.
Our videos guide you through the functionality of our website and talk through step-by-step guides on things like making an energy switch or applying for a free Pension Health Check.
If you even want to ask us some specific questions which we haven't covered, please reach out to Support@over50smoney.com and we'll try our best to help.
Ofgem price cap update February 2024
Ofgem have announced the new price cap level for April 2024, as well as a few other updates.
Просмотров: 582
Видео
Update on shorter switching times in the energy market
Просмотров 937 месяцев назад
Energy switching update: ruclips.net/video/ydinfpvVp64/видео.html Free energy price comparison tool: www.theenergyshop.com/wayInForm?agentID=355-C3kL5w From 1 April 2024, energy companies will have up to 5 business days to complete a customer's switch or they will owe that customer £30 in compensation.
Energy switching is back!
Просмотров 1,4 тыс.7 месяцев назад
Switching tool: www.theenergyshop.com/wayInForm?agentID=355-C3kL5w Great news, it looks as though the energy switching market is coming back! In this video I provide a couple of warnings about switching now, but also tell you how to find our switchable tariff through the link above.
Energy Market update - January 2024
Просмотров 8927 месяцев назад
A few brief updates on the energy market and what we can expect to see in the coming months.
Ofgem consultations #11 - Over50smoney responds to Ofgem's call for input on standing charges
Просмотров 5607 месяцев назад
Over50smoney's response: www.over50smoney.com/Home Bills/Energy/426 Over50smoney Responds to Ofgem Call For Input on Standing Charges Ban mid-contract price rises: chng.it/B6btfgvsCh
December 2023 inflation 4% - Broadband and mobile phone contracts
Просмотров 4237 месяцев назад
Inflation has risen from 3.9% to 4% in December 2023, against experts predictions of a decrease. This means we will all see around a 7.9% increase in our broadband and mobile phone contracts from April 2024. Our petition with Ofcom calls for a complete ban on all mid-contract price rises! We've managed to get 130,000 signatures so far and plan to keep increasing that number, so please click the...
Ofgem Consultations #10 - Additional debt related costs video 2
Просмотров 1,1 тыс.7 месяцев назад
Ofgem have decided to increase consumer bills by a further £16 per year to cover increased bad debt in the energy industry, here is our response: www.over50smoney.com/Home Bills/Energy/424 Over50smoney Response to Additional Debt Costs Review Consultation My email address: richard@over50smoney.com CC: support@over50smoney.com
Merry Christmas from Over50smoney!
Просмотров 9918 месяцев назад
Just a short Christmas message, wishing you all a fantastic festive period! We'll be back in the New Year with lots more consultation work to do in January, but for now I hope you all enjoy a well-earned break :) Thanks, Richard Winstone
Ofcom update on Mid-Contract Price Rises
Просмотров 1,4 тыс.8 месяцев назад
Ofcom have announced a consultation on the way broadband and mobile phone companies implement mid-contract price rises. We're still calling for the ban, and we'll be shouting louder than ever! Sign the petition: chng.it/B6btfgvsCh Save money on your broadband bills: broadband.over50smoney.com/home?postcode&uprn&component[broadband]=1&multi_filter[contract_length]&multi_filter[sort]=AggregatePri...
A summary of the Autumn Statement
Просмотров 2219 месяцев назад
This video is a quick overview of the announcements made on 22 November by Chancellor of the Exchequer Jeremy Hunt in his Autumn Statement. Written summary: www.over50smoney.com/Financial Planning/416 Unpacking the 2023 Autumn Statement My email: richard@over50smoney.com
Ofgem consultations #9 p2 - Open letter sent to Director General, Markets regarding diabetes claim
Просмотров 4419 месяцев назад
In this video I explain the purpose of the open letter sent to Ofgem and I briefly talk about the upcoming Ofgem announcements. Links below: Open letter: www.over50smoney.com/Home Bills/Energy/415 Open letter issued to Ofgem regarding Diabetes statement in latest Standing Charges document Customer services survey: www.over50smoney.com/survey/12/Energy Market Survey 2 - November 2023 My email: r...
Ofgem consultations #9 p1 - Standing Charges finally getting reviewed!
Просмотров 1,4 тыс.9 месяцев назад
Ofgem are finally doing a review on standing charges. In this video I give a little background on their current request for information (RFI) and I discuss a strange paragraph in the RFI document. The next video will provide a full view of the document and questions asked within, as well as my responses to those questions. My email address: richard@over50smoney.com
Updates on the energy market and upcoming Ofgem consultations - 8 November 2023
Просмотров 1,2 тыс.10 месяцев назад
This is a short video explaining the upcoming announcements we're expecting from Ofgem in late November 2023 and a brief update on the energy market. My email: richard@over50smoney.com
Ofgem Consultations #8 p2 - Response to Ofgem's document on an Additional Bad Debt Allowance
Просмотров 72610 месяцев назад
Contact Ofgem to tell them your thoughts: www.over50smoney.com/Home Bills/Energy/412 Additional Bad Debt Related Costs Allowance - Over50smoney response to Ofgem Policy Consultation Ofgem have issued a policy consultation for adding an additional bad debt allowance to the price cap to cover predicted increases in bad debt and to cover the additional bad debt created by the moratorium on involun...
Ofgem Consultations #8 p1 - Additional Bad Debt Allowance
Просмотров 1,1 тыс.10 месяцев назад
Ofgem are consulting on adding an additional allowance to the price cap to cover the costs of increased bad debt in the energy market. Last week I posted a video explaining that I thought Ofgem had made a mistake in the consultation document and that I was going to ask them about this issue in a meeting I had Friday 20 October, in this video I explain the answers I received and discuss what hap...
Ofgem Consultations #7 - Response from Ofgem CEO & O50sM response to Wholesale cost allowance letter
Просмотров 56811 месяцев назад
Ofgem Consultations #7 - Response from Ofgem CEO & O50sM response to Wholesale cost allowance letter
Keir Starmer Speech at Labour party conference 10 October 2023 - Summary and my views
Просмотров 74711 месяцев назад
Keir Starmer Speech at Labour party conference 10 October 2023 - Summary and my views
Shadow Chancellor Rachel Reeves Speech Labour conference Oct 2023 Summary and my views
Просмотров 47411 месяцев назад
Shadow Chancellor Rachel Reeves Speech Labour conference Oct 2023 Summary and my views
Ofgem consultations #6 - Additional wholesale cost allowance letter October 2023
Просмотров 60111 месяцев назад
Ofgem consultations #6 - Additional wholesale cost allowance letter October 2023
Rishi Sunak's Speech at the Conservative Party Conference 4 October 2023 - A Summary and my views
Просмотров 75411 месяцев назад
Rishi Sunak's Speech at the Conservative Party Conference 4 October 2023 - A Summary and my views
A summary & my views of the Claire Coutinho speech at conservative conference party
Просмотров 1,4 тыс.11 месяцев назад
A summary & my views of the Claire Coutinho speech at conservative conference party
Price cap to change twice on 1 October - how does it affect you?
Просмотров 2,2 тыс.11 месяцев назад
Price cap to change twice on 1 October - how does it affect you?
Over50smoney contacts Ofgem CEO over conflict of interest concerns
Просмотров 67611 месяцев назад
Over50smoney contacts Ofgem CEO over conflict of interest concerns
Simplifying Energy #10 - Why is competition in the energy market needed?
Просмотров 20711 месяцев назад
Simplifying Energy #10 - Why is competition in the energy market needed?
Ofgem Consultations #5 - Development of competition framework
Просмотров 1,1 тыс.11 месяцев назад
Ofgem Consultations #5 - Development of competition framework
A message to the Secretary of State for Energy Security and Net Zero, Claire Coutinho
Просмотров 91111 месяцев назад
A message to the Secretary of State for Energy Security and Net Zero, Claire Coutinho
Simplifying energy #9 - Updated average usage figures in the price cap
Просмотров 577Год назад
Simplifying energy #9 - Updated average usage figures in the price cap
Ofgem Director in Conflict of Interest for almost two years
Просмотров 1,8 тыс.Год назад
Ofgem Director in Conflict of Interest for almost two years
Ofgem consultations - Thank you for your incredible efforts!
Просмотров 568Год назад
Ofgem consultations - Thank you for your incredible efforts!
Appreciate your frustration, Quit your job and go on the doll and get those fuckers to pay it. This is what i've done. I was working as a carpet fitter with a dodgy back and I was having to go to work extra Because of this absolute fraud , and it nearly sent me over the edge.
I no longer work. This caused so much stress for me I couldn't cope man. Absolute fraud . I refuse to go to work & pay these rip off prices. Thanks for sharing
Useful advice ...the fees seem exploitative.....
loved this video and I appreciate your own values and opinions keep doing videos like this!!
Agree we should incentivise reduce usage. Standing charge should be linked to consumption but also linked to renewable for the region. For example according to the ESO app Scotland and NE England consistently generates more electricity using wind and water.
I have said it before and I will say it again, in the past my son (who was little then) and I went to bed early, wore hats, layers of jumpers' sat under blankets with hot water bottles to keep warm, no one paid our bills for us. I don't see why I should have to pay for others at this time in my life when I have gone back to going to bed early and sitting under blankets with hot water bottles again to keep warm. I also don't see why I have to pay more to pay for those on pre pay meters, I already pay more because I chose to pay as I go, I send a cheque when the bill comes in. Thanks for all your hard work Richard.
morning Richard...headline is price cap down slightly, small print: everything else is going up to rip you off even more!! Well done on your hard work mate.
Thank you for your tireless efforts. Can't say I share your optimism though! Crumbs of comfort really and even the levelling up very much favours the companies. Afterall they have been over-charging pre-paid customers for years and still are albeit that over-charge is now distributed to everyone! What Ofgem should have done is stopped it entirely as the companies have benefitted from this unfairness for long enough. And how we should doff our caps to Ofgem for not adding more levies to give more money to the companies because they forgot to add some supposed cost. "Consultations" - who do they consult? Certainly don't take any notice of us. No, consultations should read "edicts". And wasn't there something about conflict on interest not long ago? Ofgem are in no small part responsible for failed companies because it is they who issue licences i believe. Due diligence should have been observed. Ofgem is an utter sham helping only suppliers.
Thank you for giving us the good news, 😀👏
I trust you advocate for renewable energy over fossil fuels. And in the long term decoupling from Fossil should ensure less fluctuations and more stability where over time the price can only fall which is the opposite of fossil.
Thank you and appreciate the new information. Respect 👍👂👀🖊️📔🆙
My only concern is that signing up for a fixed tariff does not secure your payments if the company goes bust and you are moved to another company. This happened to me once before.
That wasn't that helpful cos it did not show the tariffs. It would have been helpful rather than go through the palaver of going to the website. Thanks anyway.
Richard thanks again for your efforts. The 'energy' scene is a nightmare or is it a 'minefield' for us consumers. Can add another 'mine' to the 'field'.....Octopus Export or other solar generated export customers and how does the option of switching affect us?
afternoon Richard...your hard work is much appreciated...
Top info my committed money man...
Thanks for the update Richard. On the subject of debt, am I right in my understanding that the energy companies do not write-off customer debt, even though the price cap has been increased to account for so-called unrecoverable debt? Instead, they switch customers onto pre-payment meters and recover the debt that way. So they get the debt paid by customers who aren't in debt as well as recovering some or all of the debt via pre-payment meters?!?!
Richard you're a great man. Keep up the good work, we all appreciate it 👍🏽
So £16 is being added to each of our bills to cover debt, but these companies make millions in profit, so not exactly struggling and could shoulder this themselves. But heaven forbid something eats into their profits. Rather let the struggling masses bear the brunt!
It's about time Ofgem were disbanded and a true independent body put in charge. Also a look at the unfair extra charges that are added on how you pay, because we pay by cheque not standing order our electricity is peak rate 31.27p, off peak 21.81p, standing charge 58.13p. The gas is 7.63p with a standing charge of 33.30p. I get emails telling me that if I move to standing order I will save X amount and I reply telling them I don't do standing order, I have had my details stolen in the past and sold on to the dark web (they were stolen from the water company) by paying by standing order and have no intentions of going through the rigmarole of getting that sorted again.
plus the VAT
Scottish Power are now allowed to force prepayment meters again. Another bad supplier, completely ignoring customers and not available to communicate with. Reported many times by customers to Ofgem.
What is the definition of "debt" for the forced istallation of prepayment meters or change over of smart meters to prepayment function? in a year from my experience is that there is a debit situation in winter and a credit situation in summer. Energy companies try to adjust this so that we are continuously in (usually very large) credit, with the minimum debit situation occuring.Does this mean that when we go into a debit balance in winter we can have prepayment meters forced on us? It doesn't seem fair or realistic, but would helpful to get clarified. Thank you to anyone who can do this.
When you you think the link between the wholesale price of gas and electricity prices be scrapped thereby drastically cutting the price per kW of electricity.
Thank you
Thank you for video and explaining everything so clearly very jnteresting
Interesting video and enjoy seeing your responses to consultations. Wondering if you considered the aspects of the standing charge proposals raised by Citizen's Advice? In short (i) changing the standing charge to volumetric/unit rate costs would potentially make households with chronic health conditions (for example, through the use of home medical equipment, or suffering from cold sensetivity during chemotherapy treatment), that require more energy, worse off?; (ii) any changes to standing charge probably has to come with supplementary government support, e.g. support for people wih disabilities so that they are made worse off in a way described in (i).
Richard as far as I can see there is no justification for the 3.9% plus inflation - I think this is a question that OFCOM need to answer, clearly inflationary increases are designed to cover pay rises and supplier price increases, where does the other 4% go? Executive bonus fund? Also if they are not giving the employees an inflation matching pay rise then the increase is just going to the bottom line - so profit, which with the cost of living crisis is an unacceptable state of affairs.
OFGEM is, and has been for a very long time an enemy of the people.
Do I just copy/paste the body of test in the link to register my distaste at OFGEM'S actions? I plan to spread the info around and try get a boatload of people I know to spread it far and wide!
evening Richard...yep...we'll all get ripped off again...just what cost rises do these companies have to justify this massive increase??
Thanks Richard, we are at the whim and fancy of these large companies, doing what they want with no control. The organisations that are supposed to govern on our behalf (and take large wages for the honour) are just corrupt. It’s time for change, and people like you are a beacon in showing up these bullies.
It's 4.38p per day, £1.31.4 per 30 day billing, but it's something on one wants to pay. Energy suppliers put in prepayment meters or changes smart meters to prepayment for those in debt. The only time a supplier might not get any payment is where a person dies and has no money left, they are basically living day to day. To low users this might be more than a day's electric usage per month, I know it will be an average days usage, including the present SC, every month for me on the octopus tracker tariff.
I really don't see why I should have to pay someone else bills. When my son was small we used to wrap up in blankets, go to bed early in hats and jp's and loads of blankets so that we could pay our bills. Now in my sixties I am having to do the same thing, but I pay my bills now as I did then, no one paid my bills for me. I also think that by making other people paid the bills for people who can't, won't or can't be bothered to changed their life style to pay their own bills makes them take a 'why should I pay' attitude
The whole of Ofgem's approach shows them to be in the pockets of the energy suppliers. The government should suspend Ofgem, suspend any further changes and set in motion a full review - is that likely with a government that is probably beholden to these companies.
OFGEM and the rest of these clowns= mafia
Who is paying OFGEM? Who is paying them because they are absolutely useless! How are they appointed? It’s not our fault that there’s bad debt they should plan for this properly. Bunch of scammers!
Thank you Richard for the latest update. I find that decision unacceptable and very upsetting to me. When customers can't pay their bills that doesn't have anything to do with other people 💯🔊. That's between that customer and their energy company to come better agreement, when can't either go on prepayment meter. Shame on Ofgem they're not doing good. I would like to have a telephone conversation with you on this topic. Nuff respect and thank you for the amazing job that you are doing.
Hard not to conclude that OFGEM are not fit for purpose and should be disbanded
Whilst I agree that forced pre payment meters shouldn’t be fitted to genuinely vulnerable households , it’s a delicate balancing act .. you’ve touched upon everyone’s bills going up for bad debt & I know through selling a property over a year ago that sometimes bad debt is not always genuine .. the person I sold the property too was working , moved into the property and never bothered to contact the energy company despite me telling him that the final meter reading was given when I gave him the keys .. he had ignored numerous letters to the householder that had been sent to him for over 9 months and eventually I got emails and phone calls asking for information to be provided as they knew from the smart meter energy was being used .. in this case he’s working , he’s just moved into the property and deliberately been evasive for the best part of a year ! so in this instance he should be forced over to pre payment which could be done remotely as he was on a smart meter .. what’s the alternative ? Leave it and never get it back whilst everyone else has to pay for it !
Ofwat, Ofgem off-f, we should have known they were set up solely to work on behalf of those industries not for their trapped customers. Perhaps an OfOff run by we ordinary people to make damn sure those regulators do their job fairly on our behalf.
If you would like to be more constructive Richard then i would suggest to stop wasting your time contacting Ofgem and hoping that they care about your views or mine. What is required is start a program where WE ALL REFUSE to pay these ridiculous increases. People like Rishi Surat has just decided to help the Zionist in the Ukraine by providing 2.5 Billion instead of helping the people of the UK. These Zionist pigs are to blame and need to be held accountable!!!!!!
Thank you Richard for the update. As for Ofgem and any investigation, it will be like the post office and their software....a cover up. People no longer have any faith in Ofgem. They take the side of suppliers everytime. I can no longer put my heating on every day, when it is on the thermostat is mostly set on 10 on occasion I put it on 15. Laundry done on a cold wash and less often, electric bill is now taking the whole of my budget for both gas and electricity. 74 years old cutting down on food to pay utilities with nothing in the future for pensioners to look forward to. Ageism comes to mind when I think of Ofgem and the government 😢
It's pretty obvious now Ofgem is in bed with these hideous energy companies...however...keep up the good work Richard it is appreciated
Have a god new year. Please don't do yourself in over these greedy piggies. Stay healthy and happy!
Thanks so much Richard, Merry Christmas - cool jumper by the way 😀
Well done on all you are doing great perseverance! Happy holidays 😊
Merry Christmas Richard and thank you for all your hard work during the past year it’s much appreciated.
Merry Christmas Richard and thanks for all
Thanks for the update, enjoy your Christmas break.
Thank you Richard for all your hard work, have a very Merry Christmas and a rest, You are an angel