Monday, 23 May 2011

Energy brokers face clampdown as watchdog may ban rollover deals

Ofgem is considering a ban on controversial rollover fuel contracts in the business market to give small firms greater protection.

The energy regulator is also consulting on whether brokers should be forced to keep recordings of all phone conversations with business customers.

In addition, brokers could be forced to admit when they are being paid commission. They may also be compelled to explain key terms and conditions and make it clear that all contracts are legally binding – even those set up over the phone.

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