Credit, Collections & Insolvency News
Rising energy costs, supply chain disruption and ongoing geopolitical uncertainty linked to the Middle East conflict are already impacting the majority of UK businesses with two thirds (66 per cent) reporting experiencing energy and fuel cost pressures, while shipping and logistics costs (43 per cent) are also weighing on margins. According to the latest Barclays…
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Small businesses say that the hike in energy prices following the war in the Middle East will cost them an average of £2,273.90 extra a month, according to new research conducted by Novuna Business Finance. Whilst many consumers have noticed prices soaring at the pumps, small businesses need energy in various other ways. The national…
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New research has revealed that while SME confidence in Government remains fairly lukewarm, this support is fragile in the face of mounting economic pressures and uncertainty – and may well turn sour without urgent action on tax and costs at the Autumn Budget. The survey of 1,000 SME leaders and decision makers, commissioned by FTSE…
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The Government has launched a consultation to cut electricity bills by up to 25 percent for over 7,000 British businesses. Business and Trade Secretary Peter Kyle will set out an offer of enhanced support in a keynote speech to a room of bosses from some of the UK’s top firms at the CBI Conference in…
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The Consumer Council for Water (CCW) is concerned that Ofwat’s decision to change the billing accuracy requirement in the Customer Protection Code of Practice (CPCoP) will negatively impact business customers. The consumer watchdog strongly believes the change to the code, which now states that retailers only need to issue one customer bill a year based…
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More than 7,000 British businesses are set to see their electricity bills slashed by up to 25% from 2027, as the Government unveils its new Industrial Strategy. Lowering energy costs for thousands of businesses by exempting them from some green energy levies will be the central part of the refroms. The modern Industrial Strategy sets out a…
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New research from EY. has found that whilst the majority of companies say they have energy-related strategies and targets in place with three in five (62%) say the volatility of costs is already impacting profitability and competitiveness, with 66% concerned about the availability and reliability of energy supply to meet their future needs. The latest…
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Energy company, Maxen Power has paid £1.65 million for customer service failures. Maxen Power supplies more than 10,000 non-domestic energy customers. A recent investigation carried out by energy regulator Ofgem found that Maxen Power breached its licence conditions by not having robust systems in place to protect its customers. This allowed third-party reps to sign…
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Credit Connect Media hosted its second Commercial Credit & Collections Conference last week at the Midland Hotel in Manchester which saw ten trade credit and insolvency professionals from various industry sectors meet to discuss the latest industry challenges. In the seventh edition of the Commercial Credit & Collections Conference series, hosted by Credit Connect Media,…
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Opus Energy has agreed to pay more than £7 million in refunds, redress and goodwill payments after identifying it overcharged almost 88,000 non-domestic customers between 2003-2023. The non-domestic supplier had two faults in its billing system, meaning customers were temporarily on the wrong tariff or their billing periods were incorrectly duplicated. The faults were initially…
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Electricity bills for small industrial consumers, including large retail and leisure units as well as small manufacturers, are set to rise to around £200,000 more than pre-crisis levels in 2026 according to data from Cornwall Insight’s Business Energy Cost Forecast. The report revealed that small industrial businesses are predicted to be paying £550,000 annually (£238…
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CCW has announced that it has confirmed Mike Keil as its permanent Chief Executive. Keil took the reins on an interim basis last October after the departure of former CEO Emma Clancy, following her three years at the helm. He has been with CCW for the past seven years having previously served as the organisation’s…
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Small businesses in England and Wales are facing a near 30% increase in water bills by 2030, as water suppliers are accused of passing on the costs of ‘historic errors’ made by industry leaders. Water industry regulator, Ofwat anticipates average wholesale charges for non-household customers, including small firms and charities, to rise by approximately 27%…
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