Image: Shutterstock/fizkes Image: Shutterstock/fizkes IRELAND’S CONSUMER WATCHDOG is to carry out “considerable” consumer research into pricing strategies used by utility and financial companies, such as those in the insurance industry.
The impact of loyalty penalties on particular groups of consumers such as older consumers or those with low financial wellbeing will also be investigated, he says.or the ability to switch so consumers experience successive price increases” known as “price walking”.The impact of rollover contracts will also be investigated.
He states that recommendations to Government will be forthcoming on how sectoral regulators and advocacy groups can address any identified consumer harm.“This will focus in particular on groups of consumers who may find it hard or impossible to switch providers,” he said. It also plans to engage with national and European counterparts to share information and keep up to date with developments. A public awareness campaign will be rolled out which will inform and provide information to consumers as to how they can switch service providers.“The CCPC recognises the importance of this work and is committed to playing our part, as quickly as we can, in providing an evidence base for firm actions to help consumers.