Should Comaprision Sites Disclose Their Commission?

[youngmafbog]

Not quite sure where this man is coming from (and look at that comb-over!).

If he thinks the commission is too high why does he use them (60,000 transfers in 9 months).

Why dont the energy companies create a comparison site of their own if they really have a problem with commercial ones?

Sounds like the pot calling the kettle black to me

[youngmafbog]

Done it again

http://news.sky.com/story/1199948/energy-boss-attacks-price-comparison-websites

[ToraToraTora]

well the punters could care less, they just want a cheap deal, and old comb over may moan but I'd wager that his firm gets a good slab of business from them. So disclosure makes no difference to the punter anyway!

[LazyGun]

Well, I think in the interests of informed decision making by the consumer it would be useful to know if the Comparison site is making money from referrals/new business generation, and what kind of money that represents.

That having been said, these comparison websites offer far more positives for consumers than negatives, and it does sound a bit like sour grapes on his behalf. It was also interesting to note that although he calls for full disclosure, he refused to say how much his own company paid the comparison websites in commission for new customers, citing "commercial confidentiality"! ;)

Everyone should change supplier at least once, because initial savings can be quite large; You get into a law of diminishing returns after that, though, in my experience.

[237SJ]

If the boss of Co-operative Energy cares so much about commission charges, then he could do what Direct Line Insurance do and not be included in comparison sites (thus passing on the savings to the customer). I don`t think the comparison sites should disclose commssion details any more than (say) travel agents.

[boxtops]

There's a simple answer - don't use those comparison websites. We rarely look at them - we find we can get better rates by going direct, e.g. to car insurance companies. Not all companies use the comparison sites.

[youngmafbog]

They are very useful to approach the direct companies with a competitive quote though!

Personally I have never purchased anything from them.

[ToraToraTora]

"Well, I think in the interests of informed decision making by the consumer it would be useful to know if the Comparison site is making money from referrals/new business generation, and what kind of money that represents."
sorry could give a rats ar5se, I do a comparison annually for insurance and leck etc" - they effectively discount for new customers.

boxy - please compare, save a small fortune not to metion the tedium of multiple quotes etc. Direct line etc are not on comparison sites for a good reason, they take the pi55

[LazyGun]

""Well, I think in the interests of informed decision making by the consumer it would be useful to know if the Comparison site is making money from referrals/new business generation, and what kind of money that represents."
sorry could give a rats ar5se, I do a comparison annually for insurance and leck etc" - they effectively discount for new customers."

I am glad you are happy in your ignorance :)

[ToraToraTora]

sorry what possible relevance to the consumer is the commission the comparison sites make? We use them to get the cheapest deal, end of.

[woofgang]

I find comparison sites really annoying. You tell them what you want in your insurance. They come up with a list and it looks like you will make a huge saving until you realise that the first few cheapest on the list bear no resemblance to the insurance that you want.

[LazyGun]

"sorry what possible relevance to the consumer is the commission the comparison sites make? We use them to get the cheapest deal, end of"

Well it might be the "end of" your sentence, but it most certainly is not the end the argument. Knowing who is offering commissions might focus our attention on the level of customer service for instance.

And anyone who signs off their argument with "end of" has no clue whatsoever about anything much.