Outfox the Market

Outfox the Market, the trading name of Foxglove Energy Supply, is a British energy supplier based in Leicester, United Kingdom. It was founded in 2017.

History

In 2019, the Advertising Standards Authority upheld a complaint against Outfox the Market, which forbade it from publishing false claims to the cheapest supplier in the UK, or the cheapest green energy supplier in the UK.[1]

In 2021, it came top in a Which? customer satisfaction survey.[2][3] In July 2022, it came second in a survey by Citizens Advice.[4] However, later in the same month, energy regulator Ofgem criticised the company for failing to take action on customer's direct debit problems.[5]

In December 2022, Ofgem served the company with a notice of failure to comply with a confirmed Provisional Order within the meaning of section 25 of the Electricity Act 1989 and section 28 of the Gas Act 1986.[6] The notice, issued because of Ofgem's concerns over the company's financial viability, forbade Foxglove from taking on any new customers, or taking any money out of the company. In June 2023, the ban on new customers was lifted; however the company was still restricted from making any non-essential payments.[7]

In July 2023, Outfox the Market was fined £1.8 million for repeatedly failing to provide Ofgem with appropriate financial data when required.[8]

References

  1. ^ "ASA Ruling on Outfox the Market Ltd". Advertising Standards Authority. 25 September 2019. Retrieved 21 February 2023.
  2. ^ Riaz, Saleha (25 January 2021). "Upstart supplier Outfox the Market beats British Gas, EDF in customer satisfaction survey". Yahoo Finance UK. Retrieved 21 February 2023.
  3. ^ "Outfox 'changed philosophy' after 'period of turbulence'". Utility Week.
  4. ^ Lawson, Alex (1 July 2022). "UK energy supplier customer service plunges to new low, survey finds". The Guardian. Retrieved 21 February 2023.
  5. ^ Lawson, Alex (13 July 2022). "Ofgem tells energy firms to take urgent action to fix direct debit problems". The Guardian. Retrieved 21 February 2023.
  6. ^ "Foxglove Energy Supply Ltd: Provisional Order July 2022". Ofgem. Retrieved 21 February 2023.
  7. ^ "Outfox the Market's ban on new customers lifted". Utility Week. 14 June 2023. Retrieved 13 December 2023.
  8. ^ Mavrokefaldis, Dimitris (21 July 2023). "Outfox The Market fined £1.8m for failure to submit financial data". Energy Live News. Retrieved 13 December 2023.


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