Energy giants more disliked than banks, poll finds

Energy giants are now even more disliked than banks, according to a Guardian/ICM survey.

People were asked to pick which two or three villains from a ‘rogue’s gallery’ of businesses they most disliked, and 46% picked gas and electricity suppliers – more than any other sector.

By contrast, 36% pointed the finger at banks for the way “they treat people and customers”, and 26% did the same with insurance companies.

In the wake of plunging costs in global market, prices on the forecourt have fallen much faster than household heating bills, which may be why petrol and oil companies are less despised than home energy suppliers – also being named by 26%. Lesser villains were: mobile phone & TV companies (18%), house-builders and tradespeople (16%) and companies that provide public transport, which were named by a mere 13%, even though the survey was conducted within three weeks of the New Year rise in rail ticket prices. Newspapers were singled out by 11%, while 6% named internet retail giants, and just 2% high street shops.

Energy prices have often spilled over into the political market in recent days: Ed Miliband’s proposal to cap energy bills in 2013, a time when prices seemed to be rising remorselessly, proved to be one of Labour’s most popular initiatives during the current parliament. But as he hailed British Gas’s move to cut household prices by 5% this month on the back of market developments, David Cameron argued that the folly of Labour’s freeze proposal was belatedly being exposed.

SSE became on Monday the fifth of the big six energy companies to reduce gas prices, following cuts from E.ON, British Gas, Scottish Power and npower.

ICM tested the mood of respondents towards a more and less interventionist approaches to energy, and found that 25% judged that the recent “reduction in fuel costs shows that leaving energy prices to the market is the right thing to do”, which is in tune with the prime minister’s reading of recent developments. But a substantial majority of 60% believe the fact that fuel remains expensive proves that “a policy of intervening in the energy market is the right thing to do”. This finding may encourage some with Labour ranks to find new ways to take on the energy giants.

Richard Lloyd, executive director of the consumer watchdog Which? said in response to the new poll: “These findings reflect our own research which shows that energy firms have hit rock bottom for customer ratings. The Big Six suppliers propped up the table in our energy satisfaction survey, falling down on basics such as value for money, clear and accurate bills and complaints handling.

“We need the Competition and Markets Authority to propose radical remedies to fix this broken market. Instead of waiting for the outcome of the competition inquiry, companies should make immediate improvements to restore trust among their millions of long-suffering customers.”

ICM Research interviewed an online sample of 2,007 people aged 18+ on 21 and 22 January 2015. Interviews were conducted across Britain and the results have been weighted to the profile of all adults. ICM is a member of the British Polling Council and abides by its rules.