With energy bills through the roof and winter just around the corner, this means households right across the UK are increasingly vulnerable to scams that prey on those looking to reduce their electricity bills. Siobhan Blagbrough, financial crime manager under Ocean Finance, has called customers to be careful. She’s worried about misleading new products being promoted under the guise of easy energy savings. These types of scams usually involve juice jackers, plug-in devices, magnetic meters and phony “voltage regulators.” These risky products deceptively advertise savings of 30% or more on total monthly household bills.
These fake gadgets, usually marketed for less than £10, guarantee savings by controlling electricity supply more effectively. Yet, they have come under fire for not even meeting elementary UK safety standards. Blagbrough cautions that these devices cannot just be useless, but can do real harm.
Understanding the Scam Landscape
The minefield of energy-saving scams is growing, and scammers are using social media and telemarketing to target consumers like you. Victims seek relief from skyrocketing energy costs and in doing so, are lured by scams.
Blagbrough acknowledges that these sales and marketing tactics are seductive and polished. They list all the hallmarks of scammy adtech, including fraudulent Trustpilot reviews and shifty “experts” providing fake testimonials. “These scams usually involve plug-in devices, magnetic meters, or ‘voltage regulators’ that claim to cut household bills by 30% or more,” she states. “The marketing is slick, but the devices either do nothing or can actually be unsafe.”
Scams are becoming more and more brazen. They are impersonating trusted organizations such as Ofgem, claiming that they require you to check your personal information for government rebates or payments. This manipulation takes advantage of the fears and concerns of consumers at a time when skyrocketing energy costs are most acute.
Caution is Key
Even though the promise of greatly lower bills is attractive, Blagbrough warns consumers not to get swept away. She emphasizes that if such a device truly existed and could save hundreds of pounds annually, major retailers would likely sell it and trusted consumer groups would endorse it.
“If a device really could cut energy bills by hundreds of pounds, it would be sold by major retailers and recommended by trusted consumer groups. The fact that it’s being flogged on social media or through cold calls is the red flag.” – Siobhan Blagbrough
Further, Blagbrough wants to give people a nudge to work to improve the energy efficiency of their homes. He advocates for tried-and-true measures such as adding better insulation, adjusting boiler controls, and using smart thermostats. There are real savings from these measures, but you’re improving energy efficiency in the long run.
Staying Informed
Now, with winter coming and energy prices spilling over the roof, so too does the risk of falling victim to these scams. It all starts with consumers staying alert and thoroughly educated on the tactics used by scammers. Homeowners can safeguard themselves from predatory scams by learning the warning signs. They should ensure they are getting information on energy-saving solutions from credible, objective sources.