Tuesday, November 30, 2021

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Ofgem: Reads the riot act to PayPoint

Ofgem: Reads the riot act to PayPoint

  • Ofgem, the energy regulator, has decided to accept commitments from PayPoint and a donation of £12.5 million
  • PayPoint provides services to energy suppliers which enable their energy prepayment meter customers
  • These retailers are paid a commission for top-up payment transactions made using a PayPoint terminal
  • PayPoint then transfers these payments to the relevant energy supplier, in exchange for a transaction fee
  • It considered whether PayPoint had abused a dominant position by using exclusivity clauses
  • Suspected that PayPoint’s actions distorted competition and consumer choice in this market to the detriment of prepayment energy customers
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