Small energy companies
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Economy Energy is a medium-sized supplier which says it specialises in prepayment meters and pay-as-you-go energy. Is it the best supplier for you?
Economy Energy was set up in 2012 to ‘level the playing field for pre-payment customers’.
It doesn’t only supply households with prepayment, though. Economy Energy currently offers four tariffs: three fixed (including one specific to prepayment and one for smart meters) and one variable.
It supplies more than 170,000 customers and is included in our annual energy companies satisfaction survey for the first time this year.
Will Economy Energy give you the best energy deal? Use Which? Switch to compare the market and find the cheapest electricity and gas deal.
Economy Energy customer satisfaction
Economy Energy came joint 17th out of 23 energy firms rated by 8,917 members of the public in the annual Which? customer survey – the largest of its kind.
To calculate an energy company’s customer score, we ask its customers how satisfied they are with the firm and if they would recommend Economy Energy to a friend.
Economy Energy customer
‘It’s cheaper than other companies I have used’
The table below shows the breakdown of Economy Energy’s scores from our survey.
Scroll down to find out how fast Economy Energy picks up the phone to its customers, compared with other energy suppliers. Plus, why it’s being investigation by energy regulator Ofgem.
|Economy Energy survey results|
|Area of performance||Star rating|
|Customer service and complaints handling|
|Value for money|
|Bills (accuracy and clarity)||-|
|Helping you to save energy|
(Survey: October 2016, responses of 36 Economy Energy customers.)
No star rating is provided for the accuracy and clarity of Economy Energy’s bills, as we did not receive sufficient responses from its customers about this.
You can find out how Economy Energy compares with other small energy suppliers – as well as the Big Six – in the results of our best and worst energy companies.
Which? verdict on Economy Energy
Economy Energy’s customer score is just lower than the average (which is 56%) for energy suppliers in England, Scotland and Wales.
Its customers gave it four stars for being value for money (no energy supplier achieved five this year) and it offered some of the cheapest energy deals on the market in 2016.
Economy Energy customer
'It's one of the best money-wise in my area.'
One customer said: ‘On comparison sites, it’s one of the best money-wise in my area. So to me that’s good value for money.’
In our October 2016 investigation into energy company call waiting times, we found Economy Energy’s customer services to be the second-fastest to pick up the phone out of 23 energy firms we called. It took us 52 seconds on average to get through to a human.
As one customer told us: ‘It's quick to reply and respond.’
Pros: It’s rated good value for money by its customers, and it does offer some cheap deals. Fast to pick up the phone to customer services in our snapshot investigation
Cons: We think its bills could be clearer whether they’re based on estimated or actual readings
Economy Energy fuel mix
Where Economy Energy gets its fuel from:
- 38.7% Coal
- 36.2% Natural Gas
- 14.2% Nuclear
- 4.6% Renewables
- 6.3% Other
(Note: this information was correct January 2017)
Economy Energy in the news
In September, energy regulator Ofgem begun investigating Economy Energy’s marketing and telesales practices after concerns were raised about how it recruits new customers.
Economy Energy was ordered to pay £250,000 in November by Ofgem for mis-selling and management failings between October 2012 and December 2013. The regulator said Economy Energy’s salespeople misleadingly guaranteed cheaper prices than the Big Six suppliers and also did not make it clear that customers were signing up to a 12-month contract.