Almost 1.3 million energy customers have been overcharged a total of £102 million – the equivalent of more than £79 each – as a result of billing errors by energy companies over the last year, according to new research from uSwitch.com, the price comparison and switching service. Nearly one in three (28%) of those affected said that they…

Ofgem has today updated the level of the prepayment price cap, or safeguard tariff, which will cut bills for around 3 million households by up to £19 a year based on typical consumption. The change, which takes effect on 1 October, will reduce the level from about £1,067 to £1,048 for a dual fuel prepayment…

British Gas has announced a12.5% electricity price increase commencing in mid-September. British Gas owner Centrica has blamed the price hike on rising costs a move which will affect 3.1 million customers. Ben Wilson, Energy Spokesperson for GoCompare said “Wholesale energy costs have fallen but British Gas still try to justify an electricity price increase nearly five times…

Consumers will have greater control over their bank data and financial decisions thanks to new laws coming into force in January. The government is bringing in a new regulatory regime for innovative FinTech firms which will transform the way people engage with their finances and make it possible to manage all of their finances at the…

Ofwat has announced that Chief Executive, Cathryn Ross, will be leaving the regulator at the end of the year to take up a senior position in the private sector unconnected with the water industry. Ross, who was appointed as Ofwat Chief Executive in October 2013, has successfully led the regulator through a significant period of…

Equifax and Energy Solutions company ENSEK, have formed a joint partnership to support identity verification and credit assessment services for new-to-market energy suppliers. The integration between Equifax and ENSEK will supply real-time consumer and commercial data to energy providers, enabling them to onboard new customers more efficiently as part of an automated process. The insight…

Energy consumers are subsidising £7.5 billion in unjustified profits made by the businesses responsible for the UK’s gas and electricity networks over an 8 year period, according to new research from Citizens Advice. The national charity has published new research which estimates that key decisions made by the energy regulator Ofgem are allowing energy network…

Energy companies are burying the details of charges on late bill payments deep in their terms and conditions, to the extent that households are unaware of the penalties. Research from comparethemarket.com shows that energy providers are charging interest of, on average, 4% APR to customers who are late in paying their bills. Most households pay their…

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