Water regulator, Ofwat has published its first report on water companies’ response to the new board leadership, transparency and governance principles. This is part of the regulator’s ongoing challenge for companies to act in the long-term interest of customers and the environment, and to demonstrate their commitment to the wider public interest they serve. The…

OVO Energy has completed the acquisition of SSE’s UK household energy business.  The merger combines SSE’s scale and OVO’s technology capabilities which will enable millions more customers to decarbonise their homes, while keeping their costs down. With the acquisition completed, the leadership teams from both companies will collaborate on a more detailed plan on how…

One in three consumers expects to retire with an average debt of £17,460 this year according to new research by Key. The research has found that the debt will take three-and-a-half years to clear. Initial findings from this work suggest that the ‘Retirement Class of 2020’ faces significant debt challenges with more than one in…

Low-income households have seen the fastest rise in the use of consumer debt since the financial crisis, and are too exposed to financial shocks, according to new research published by the Resolution Foundation. The ‘An outstanding balance?’report explores changes in the use of consumer debt – including credit cards, store cards, mail order and hire…

Unsecured debt hit a new peak of £14,540 per household in 2019 according to TUC analysis. Meaning that the average household debt is now 31% above its peak before the financial crisis. The analysis shows that unsecured debt per household rose to £14,540 in the third quarter of 2019, which is up £430 on a…

Ofgem has launched an investigation into whether Utilita broke rules around charging customers above the permitted level of the price cap for prepayment meter customers, between May and September 2019. The Prepayment Meter Price Cap came into force on 1 April 2017. The cap is temporary, and applies to prepayment meter customers on a non-fixed…

According to new research by GoCompare, only 43% of consumers will start the new decade with their finances in good shape. Younger adults are the least optimistic about their finances.  Just 29% of 18 to 24-year olds and 26% of 25 to 34-year olds feel they are in good order.  In stark contrast, over half…

Around eleven million customers have saved as much as £1 billion on their energy bills in 2019, according to new data to mark the first anniversary of the government’s energy price cap. Research has shown that the cap has saved families on default energy tariffs around £75 to £100 on dual fuel bills this year.…

Annual household bills have risen by £112 during the past year, according to new statistics from comparethemarket.com. The research which analyses the cost of energy, home and motor insurance since 2015 has shown a relentless rise in bills for households across the country. On average, people are spending £2,707 on these three products over the year…

Credit Connect Media will host its first free live webinar in February. The webinar titled “How to accelerate effective collections with digital transformation” will be the first of a series of webinars looking at the latest thematic innovations enhancing collections strategy. The first partner for the webinar will be Lightico, winner of the Contact Centre…

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