SSE Energy mis-selling

[Fastpedeller]

So the energy company SSE has been fined heavily for mis-selling.
How does this help anyone? (except the official department receiving the monies)
Do the customers get any money returned to them? I suspect not!
Do the senior management suffer any losses (again I suspect not!)
Who pays the fine, SSE Energy of course - and who finances that? It's customers
Forgive me if I'm naive, but I can't see how this (fining the company) helps the customer in the slightest

Please enlighten me.............

[MitchT]

I've always wondered the same. Looking forward to being enlightened too...

[crazy about cars]

The fact that they are fined <10% of their gross profit is just insulting considering what they've done. The money goes to the government who then decides on what to do with it.

[Adrian W]

It's like the banks, get caught ripping off people, large fine but no one is personally held responsible, the company goes oops sorry and everything is ok

[Eric Mc]

Small numbers of large companies dominate market = no real competition = cartel operations and/or monopolies.

Customer loses - always.

[Badgerboy]

I heard they had put £5,000,000 away specifically for consumer refunds.

[HarryW]

crazy about cars said:

The fact that they are fined <10% of their gross profit is just insulting considering what they've done. The money goes to the government who then decides on what to do with it.

That's the bit that pisses me off, why just divide between all their customers and credit it to their bills, otherwise they are paying the fine for them, or is that too sensible?

[bigee]

anonymous said:

[redacted]

Christ, i could have written that myself....just about perfectly sums up the whole self serving nature of politics in our country,the EU, and the world in which we now live.It appears we have made our beds and now have to lie in them,however uncomfortable that might be.

[DonnyMac]

crazy about cars said:

The fact that they are fined <10% of their gross profit is just insulting considering what they've done. The money goes to the government who then decides on what to do with it.

I think the amount was 0.8% of pre-tax profits.