Credit, Collections & Insolvency News
Over 10 million households (37%) are worried about how they’ll afford their energy bills this winter, according to new research from Citizens Advice. With the latest energy price cap expected to drive bills up to a three-year high – fueled by the ongoing conflict in the Middle East – the charity warns that millions of…
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New research from StepChange Debt Charity has revealed growing concern about household finances, with millions of people worried about how they will cope as energy costs are expected to rise ahead of winter. The data shows that two in five (41%) British adults, equivalent to around 22 million people, expect their finances to worsen over…
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Energy regulator Ofgem has announced a 4% increase in the energy price cap for the period covering 1st October to 31st December 2026. The energy price cap protects around 22 million households on default tariffs by limiting the maximum rates and standing charges that energy suppliers can charge. It is updated every three months to…
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Latest figures from Energy UK show that domestic customer energy debt is likely to have hit a record £6 billion in the first half of this year and – with the price cap for October expected to be at a three year high which see energy debt reach £7 billion by the end of 2026. Energy UK had already warned about the growing debt problem earlier this year in a report, which revealed that the…
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Energy bills are forecast to rise by 4% from October, according to Cornwall Insight’s final forecast for the Default Tariff Cap (price cap). On a unit-for-unit basis, this would see bills rise to their highest level since July 2023. Under Ofgem’s new definition of a typical consumer introduced in July 2026, the annual cap is…
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A targeted energy discount scheme could save eligible households £175 and soften the impact of any further gas price shocks this winter. But the Government will need to act fast to have a scheme ready by January 2027, the Resolution Foundation warned. Despite the Prime Minister’s welcome day-one VAT cut on electricity bills, further escalation…
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Credit Connect has published the annual 2026 Credit & Collections Industry Awards Review. The annual review highlights why the judges decided the winners at this year’s Industry Awards, which were announced in May in York. The review provides background and context for the award results, recognising companies for advancing industry standards and excellence. The review…
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New analysis from Citizens Advice has revealed that energy network companies have continued to rake in massive windfalls through 2025. The charity has previously warned that energy network companies, which provide pipes and cables to people’s homes, are able to profit from the high inflation that has driven the cost-of-living crisis. Since its last Debt…
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Water companies should seize more opportunities to raise awareness among households about the potential financial and environmental benefits of smart water meters, according to new research by the Consumer Council for Water (CCW). Awareness of smart metering remains low among customers, despite companies’ plans to ensure around half of homes across England and Wales are…
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New data from Ofgem has shown that energy debt has risien 15% year-on-year, hitting a record high of £4.79 billion, marking a 5% increase from the previous quarter. The number of accounts repaying debt rose by 3% for electricity and 4% for gas. Average debt for those with repayment plans is now £828 for electricity…
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New research from the National Audit Office (NAO) has revealed that millions are missing out on vital support with energy and water bills. This comes as over £7 billion worth of debt is owed to energy and water companies. The report examined how Ofcom, Ofwat and Ofgem support consumers in vulnerable circumstances and whether people…
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Ovo Energy has agreed to pay more than £10 million to customers after energy regulator Ofgem found a lack of monitoring of vulnerable customers with prepayment meters (PPMs). The regulator’s investigation concluded that OVO’s inadequate monitoring of PPM customers, including those on the Priority Services Register (PSR), led to breaches of Ofgem’s rules designed to…
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Credit Connect hosted its second annual Spring Series of events at the end of May at Eastwood Hall Hotel in Nottingham. The event opened with the first-ever Industry Leaders networking dinner, which hosted 60 attendees who have been nominated and ratified by Credit Connect’s Industry Leaders partner associations: CIVEA, CICM, CCUA, CCTA, Cifas and Registry…
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