The Energy Sale Scam

There is an old saying that when something sounds too good to be true it probably is.

The Energy Sale Scam

Energy Sale Scam

There is an old saying that when something sounds too good to be true it probably is. 

This energy scam falls into this category, but lots of unscrupulous energy scammers working in boiler rooms still use this tactic to trick customers into signing a new contract with them.

Although they can take different forms, it usually starts with something like this.

The boiler room agent will call up and say that they have brought to much electricity and gas for a customer that has gone bust. 

Or they have overbought in the market, and they need to get rid of the excess, so they are having a sale to sell it off quickly before it goes to waste.

As such they can offer you an amazing price, often telling you that the market is rising, and they purchased the energy way back when it was cheaper.

This type of scam works on the fear of loss and urgency and is particularly suspectable to small businesses that are always looking at ways to reduce operating costs.

The reality is very different however, as you simply can’t buy electricity and store it for a rainy day.  With all energy traded through wholesale exchanges all suppliers are exposed to the same market price and conditions.

So only real separation in costs is profit margins and cost to serve, when purchased on the same day.

In a deregulated industry you must have a level playing field otherwise you would simply have no competition with the big boys simply dominating the market, and this just isn’t the case.

So, the advice is simple, if it sounds too good to be true, it probably is.

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