Yesterday the news broke that "Price Comparison" sites were not showing their customers the best deals and were instead showing them the ones that paid them the best commission rates.
This is something we warned our customers back in 2011 - this isn’t news at all.
Price comparison sites make more per customer than Payday Lenders. Martin Lewis and co may wash the hands of the rogues in their game but they Lewis and co were the ones who were pocketing commission from the price comparison sites. They were the ones who sold the comparison sites advertising space on Money Saving Expert etc.
The big story here is why this has only recently become news, we knew this was happening back in 2011 and 2012. That is probably an easy question to answer, the TV companies were making millions in advertisements from price comparison sites . Why would they blow the whistle?
At the end of the day, when you switch, the price comparison sites get paid a kickback of around £60 from the utility company. This £60 comes from the utility company, this utility company gets the £60 from people like you which is in your bill.
We call on the Government to set up a free service that is totally impartial and wipes out the scammers in the price comparison sector. These make far more from the poor and vulnerable than any Payday Lender ever did.