Albany, NY – One of the state’s largest independent suppliers of electricity and gas for residential customers has agreed to refund nearly $1 million to resolve complaints about its billing practices.
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Gov. Andrew Cuomo announced Monday that Texas-based Ambit Energy will issue $950,700 in refunds to 1,566 customers after an investigation by the state. About half of those customers live in central and eastern New York.
The state investigation began after complaints about Ambit’s customer disclosure statements and renewal notices, particularly for customers who were moved from a guaranteed-savings plan into a variable rate plan charging significantly more.
Also Monday, AARP called on state regulators to investigate unfair energy pricing. It cited federal data showing that New York’s independent energy service companies charged the highest residential electric prices in the nation last year.
Another multi level marketing scheme uncovered.
I got royally screwed by Ambit. Stay away
I remember how ceratin sectors in our hieimisha societies fell for this scheme like a bunch of suckers. People were calling me and begging me to use ambit. I got promotional videos from presitgous people explaining why its not a scheme. At one point I get mad and told someone he should find a real job before they mess him up. People have to wake up. No free lunches.
I got a refund check and they were much cheaper than Con Ed.
Many people can’t tell the difference between a legitimate (legal) Multi-Level-Marketing business, and an illegitimate (and/or illegal) one.
When analyzing the merits of such a business opportunity, there are 2 things to verify:
1) Is it a legitimate Network-Marketing business, or a Ponzi-scheme? (and again, many people don’t know how to determine that. And it’s too long to explain here.)
2) If the business structure is indeed legal and legitimate, is it also a good solid company and a sound (reliable) one? (and does it offer adequate support?)
p.s.
It sounds to me that the problem with Ambit was not in the networking structure, or the core system, but rather with it’s business (pricing) practices.
In other words they messed up against the customers. Not directly against the agents.
(So once they stop bamboozling customers with pricing Shtick, they may actually be OK.)
Simple rule, borne out time and time again: if the frum oylam is all hyped about something – an investment, a pyramid scheme or some stock – stay as far away as you can.