Moneysupermarket’s hot-pants-clad businessmen have had to twerk rather more vigorously for their money of late.
The price comparison website, whose adverts promise to make consumers “feel epic”, has suffered amid a dearth of bulk switching deals — where energy giants pay it to hand over thousands of customers. It has Theresa May and Jeremy Corbyn to thank for that: politicians’ determination to cap energy prices has dented power companies’ appetite to scoop up customers en masse.
The problem shows little sign of abating, and is weighing on the shares. Moneysupermarket is down 11% since late July to 320.9p, valuing the business at £1.7bn.
The website and its rivals, such as Go Compare and uSwitch, occupy the curious digital hinterland between utility companies, banks and insurers