Credit, collections & insolvency news
Small businesses are calling for Ofgem to alter energy regulation with changes which will enable access to energy contract cooling-off period and standing charges freeze ahead of winter. Small businesses say that utilities remain a cost driver according to new research by the Federation of Small Businesses (FSB). FSB’s latest Small Business Index shows over…
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Written complaints made by business customers to water retailers have fallen to their lowest level since 2016/17 but performance remains mixed among the larger suppliers. The Consumer Council for Water’s (CCW) annual Business Customer Complaints Report shows that written complaints across England and Wales fell by 16 per cent to 12,312 in 2022-23 – down…
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Energy suppliers’ enquiry lines may need to stay open for longer, including evenings and weekends under new proposals from regulator Ofgem. The new measures are part of a series of proposed reforms to improve standards of customer service both for businesses and households, and follows extensive engagement with suppliers, businesses, consumers and other organisations. The…
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The Institute of Directors (IoD) has called for a rethink in the governance of utilities with considerable concern about the financial resilience of a number of UK water companies. The IoD says that in several cases, companies appear to have taken on excessive levels of debt in an effort to square the circle of providing…
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Business water retailer Water Plus has agreed to a deal with Flexys to use the company’s debt management technology infrastructure and customer journey technology. Water Plus is the UK’s largest B2B water retailer, serving more than 700,000 customer supply points in England and Scotland. James Hill, CEO of Flexys, said “We are pleased to support…
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New industry-wide data shows just 29% of hospitality businesses feel optimistic about the next 12 months, with energy their biggest concern, prompting an alliance of trade bodies to once again make a plea for Government to direct energy suppliers to offer fair rates. The survey asked people running pubs, bars, restaurants and other hospitality businesses…
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Energy suppliers are set to file a record number of winding-up petitions against businesses as companies struggle with soaring energy costs according to new research by Harcus Parker. Court filings show that there have been more than 400 attempts by suppliers to shut down companies to reclaim their energy debts over the past decade. The…
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The Federation of Small Businesses (FSB) is urging energy suppliers to allow small firms locked into fixed tariffs from last year to renegotiate contracts to better reflect the significantly lower wholesale energy prices. The call comes a month after massive cuts to government support on energy bills for businesses. Since 1 April 2023, the Energy…
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The average energy bill for a pub will rise by £18,400 a year this month when the Energy Bill Relief Scheme ends, the British Beer and Pub Association (BBPA) has warned, putting many pubs at risk of closure. More than 4,800 licensed premises closed last year due to the cost of living crisis with the…
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The end of the Energy Bill Relief Scheme in seven days could threaten the future of hundreds of thousands of small firms, according to research by the Federation of Small Businesses (FSB). With help for energy bills due to be radically downscaled in a week’s time, FSB is warning that 370,000 small businesses who fixed…
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New research by Dun & Bradstreet has found that almost half (43%) of global business leaders see energy price increases as their biggest challenge this year, despite Western countries’ best efforts to impose energy spend caps over the winter months and control inflation. Dun & Bradstreet which surveyed 3,396 business leaders across 18 countries revealed…
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Business energy retailer United Gas & Power (UGP) has been hit with a £2.1 million financial penalty for multiple breaches of its licence conditions. A two-year investigation by Ofgem concluded that UGP deliberately overcharged customers, did not return credit balances owed to former customers and repeatedly failed to properly communicate at time of contract renewal.…
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Proposals have been unveiled to breathe new life into the water retail market after an in-depth review concluded it is still not delivering benefits for most business customers in England. The Consumer Council for Water (CCW) has published a series of recommendations aimed at tackling the problems which continue to hamper the water market for…
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