Here is an overview of The Money Charity’s latest statistics for August 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. Per adult in the UK that’s an average debt of…

British Gas has announced that it will increase its energy prices for 3.5 million customers for the second time this year. The 3.8% increase in its standard variable tariff (SVT) from 1st October means the average bill will rise by £44, taking it to £1,205 a year. This follows a previous price rise of 5.5%…

Ofgem has chosen Octopus Energy Limited to take on supplying the customers of Iresa, which went out of business last week. The appointment follows a competitive process run by Ofgem to get the best deal possible for Iresa’s customers. Octopus Energy is offering Iresa’s customers its “Flexible Octopus” tariff, which is one of the most competitive…

Iresa, an energy supplier with less than 100,000 domestic customers, has ceased trading. The energy supply of Iresa customers will continue as normal, and their outstanding credit balances protected under Ofgem’s safety net. Ofgem has announced that it will choose a new supplier to take on Iresa’s customers. This supplier will contact these customers individually…

Lloyds Bank latest Spending Power Report has given a glimpse into the financial impact of the UK consumer’s daily commute. 84% have seen their commuting costs either stay the same or increase over the past 12 months, and one in five (18%) believe that the amount they are spending on this is causing them to…

Here is an overview of The Money Charity’s latest statistics for July 2018: Personal debt in the UK People in the UK owed £1.5877 trillion at the end of May 2018. This is up from £1.54 trillion at the end of May 2017– an extra £920.71 per UK adult. Per adult in the UK that’s an average debt of £30,670 in…

The government has confirmed that the domestic gas and electricity (Tariff Cap) bill has received royal assent. The bill will impose a temporary cap on the price of all default tariffs in the energy market until at least 2020. Commenting on the announcement Gillian Guy, Chief Executive at Citizens Advice, said “The energy price cap will…

The Financial Conduct Authority (FCA) has today announced it is retaining its existing definition of vulnerable consumers in response to its Consumer Approach consultation, with new guidance on vulnerability set to be published next year. The consultation, which was launched in November last year, proposed a new definition for vulnerable consumers. A range of organisations…

EDF Energy’s has announced that it is raising the price of its Standard Variable Tariff (SVT) by 6%. This follows a previous price rise of 1.4% announced in April Responding to the news Gillian Guy, Chief Executive at Citizens Advice said “This price rise is a bitter blow for loyal EDF Energy customers, who will be dismayed to…

Ofwat has said that high levels of payments to bosses and investors by water companies have damaged customer trust. In a number of changes to Ofwat’s 2019 price review (PR19), a range of measures have been included that would see customers share the financial gains made by water companies which have high levels of debt.…

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