Financial expert warns: Be careful when calling energy providers on the phone

Financial expert warns: Be careful when calling energy providers on the phone

According to a report by www.ndr.de, the Hamburg consumer advice center warns against dubious providers on the phone who want to make consumers switch to a supposedly cheaper energy supplier. A common scam involves older people in particular being put under pressure to reveal their meter number in order to switch to a supposedly cheaper electricity provider. Many consumers are lured with lower advance payments, even though the actual electricity price from the new provider is significantly more expensive than the existing contract. The consumer advice center warns that you should never conclude new contracts over the phone and recommends comparing prices carefully in order to identify dubious offers.

These types of fraudulent phone calls can have a significant impact on the market and consumers. More and more people could be taken advantage of by this scam, which could lead to a loss of trust in the energy industry and affect overall consumer confidence. Furthermore, this could result in consumers ultimately having to bear higher energy costs if they fall for dubious offers.

It is important that consumers take these warnings seriously and exercise extreme caution when selecting new energy contracts. Independent comparisons and review of contract terms are essential to protect against fraudulent practices.