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…

Here is an overview of The Money Charity’s latest statistics for July 2017: Personal debt in the UK People in the UK owed £1.537 trillion at the end of May 2017. This is up from £1.489 trillion at the end of May 2016 – an extra £929.97 per UK adult Based on May 2017 trends, the UK’s…

The Financial Conduct Authority (FCA) has published proposals on how consumer credit firms should manage risks related to how they pay and manage the performance of their staff. The FCA expects all firms to consider the way they pay and incentivise staff, and ensure they manage any potential harm to consumers. The FCA is consulting…

Citizens Advice has said that extending the prepayment meter cap to those eligible for the Warm Home Discount is “the best way to protect the worst off.” The national charity has been calling for the price protection for the most vulnerable since 2014 and has welcomed the announcement from the regulator Ofgem that will consult…

Ofwat has announced the appointment of Emma Kelso as Senior Director, Customers and Casework and Lisa Commane as Senior Director, Business Improvement. Commane joins Ofwat after 10 years at Ofgem where she has been responsible for wholesale markets, was a member of Ofgem’s Enforcement Oversight Board and has also worked on retail markets. She previously…

Ofgem has announced plans to protect vulnerable consumers as part of a wider programme to make sure all consumers get a better energy deal. Options being considered include introducing a safeguard tariff for vulnerable consumers which would protect them from overpaying for their energy. Research from Ofgem and the findings of the Competition and Markets…

Citizens Advice service in Scotland has published its Energy Advice in Detail report for the year 2015-16, which shows that the most common issues again concerned billing and metering and that suppliers are not doing enough to help those consumers who are on low incomes. This report analyses all of the energy issues upon which Citizens Advice…

The Competition and Markets Authority (CMA) has introduced measures which could see micro businesses make significant savings on their energy costs. During its 2-year investigation into the energy market, the Competition and Markets Authority (CMA) found that about 45% of micro businesses across Great Britain were stuck on their supplier’s expensive ‘default’ tariffs. The study concluded that…

Extra Energy has received the lowest score of Citizens Advice’s star rating system for energy suppliers for the second time – with a lower overall score. The company received 2.05 stars, lower than the 2.5 stars it received for the period between October and December 2016. The firm has previously received record low scores for…