NTIA claims energy firms 'withholding' money
According to the association’s CEO Michael Kill, NTIA case studies allegedly show “hundreds of examples of businesses being financially compromised by energy supply companies”.
One such case study involved a family run site that asked for two-thirds of the pub’s credit to be returned from the energy supplier to help top up the businesses cash flow, after learning it totalled some £9,000.
Thrive and profit
The request was initially granted in October last year; however, the pub has still not received its £6,000 rebate, with the energy supplier in question claiming the initial cheque had been lost due to recent postal strikes and that it could not transfer the funds by BACS as it did not hold the relevant bank details, despite a monthly direct debit being taken.
NTIA CEO Michael Kill said: “The Government has created a platform for energy companies to thrive and profit from vulnerable independent businesses across the night time economy and hospitality sector.”
Long term strategy
While the provider offered to cancel all previous cheques and reissue one earlier this month, the NTIA claimed energy companies were “profiteering off the back of the [energy] crisis” with costs still between 200% and 300% higher than previous bills on average, despite wholesale oil and gas prices having reduced.
Additionally, the association joined recent calls from leaders across the sector, including UKHospitality, night time economy adviser for Greater Manchester Sacha Lord and the British Beer & Pub Association, for an urgent inquiry into the behaviour of energy companies that have been, according to Kill, “unscrupulously profiteering from a national crisis”.
Kill added: “This cannot be allowed to continue. While Government is talking about a long term strategy for the economy and growth, the sector is dealing with a crisis that is happening today, not in 3-6 months’ time.”
