Rising costs force households to ration energy use

Compare the Market’s latest research has found that 79% of people are concerned that cold weather will drive up energy costs this winter. The research showed that nearly two-thirds (63%) are also rationing their energy usage by limiting essentials such as heating, lighting, and even the duration of baths or showers. A significant regional disparity…

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Water bills to rise by 26% from April

30th January 2025 Banking and Loans | #water bills

The average annual water bill in England and Wales will rise by 26% or £123 in the next financial year according figures analysed by Water UK. Water companies have committed extra money for investment in infrastructure, such as reservoirs, and more help for struggling customers. To fund these new levels of affordability support and investment,…

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78% of parents voice concern for the economy

Parents with children below the age of 18 have expressed widespread concern about the country’s economic outlook and its impact on family finances according to new research by Confused.com Life Insurance. The findings shed light on parents’ financial priorities, worries, and hopes for their children’s futures with an overwhelming 78% expressing concern about the UK’s…

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Government announces new energy data sharing plans

14th January 2025 Consumer Collections | #energy

The Government has announced new proposals to introduce an Open Banking-style data sharing scheme in the energy sector. The scheme aims to give consumers could get greater control over their energy usage and save money on their bills under plans for an energy smart data scheme. Smart data is the process of securely sharing customers’ data, such…

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CCW sets out blueprint for water bill support 

9th January 2025 Consumer Collections | #water bills

Improving water bill reductions for single people living with medical conditions which rely on higher levels of water use is among a raft of sweeping changes to the WaterSure support scheme, being proposed by the Consumer Council for Water (CCW). The consumer watchdog CCW has submitted six main recommendations to the UK and Welsh governments, aimed at…

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Pre-payment customers paying 30% of income on energy bill

3rd January 2025 Consumer Collections | #energy bills

New research by the Resolution Foundation has highlighted the challenges faced by the 4 million UK households who pay for energy via pre-payment meters (PPMs). High prices and the concentration of energy use in the winter months mean that, on average, households with a PPM will need to spend more than 30 per cent of…

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Water bills to rise by 36%

19th December 2024 Consumer Collections | #water bills

Ofwat has announced that water bills are set to rise by an average of £31 per year (36%) over the next five years from April. The water regulator has said the increase was enough for water companies in England and Wales to pay for upgrades and reduce sewage discharges. The increase is higher than the…

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Standing charges to be excluded from energy tariffs under new Ofgem plans

12th December 2024 Arrears and Recoveries | #energy bills

Energy regulator Ofgem has laid out plans to make firms offer tariffs without standing charges from next winter. The new plans also outline better support for households struggling with debt. The regulator will consult on introducing an option under the price cap to include zero standing charge tariffs alongside existing tariffs, offering consumers the ability to choose…

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Surge in number of older people living in water poverty

12th December 2024 Arrears and Recoveries | #water poverty

Almost one million pensioner households in England and Wales could be living in water poverty by 2029/30 if the UK Government doesn’t introduce a single social tariff, according to a shocking new report by charity Independent Age. This is an increase from 2022/23 when there were 750,000 pensioner households living in water poverty. The report,…

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Energy price cap reforms could see bills rise in April

11th December 2024 Arrears and Recoveries | #energy cap

New forecasts from Cornwall Insight have seen price cap predictions rise to £1,762  a year for a typical dual fuel consumer. This would represent a 1% increase from January’s price cap of £1,738 announced in November. Cornwall Insight says that the increase in the cap forecast largely reflects the movement in the wholesale market, where…

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Ofgem urged to do more to protect consumers as energy costs rise

Energy regulator Ofgem is been urged to do more by Citizens Advice to protect consumers as soaring energy costs drive billing issues. Citizens Advice helped over 52,000 people with energy bill problems between January and October this year – equivalent to one person every two minutes. This is an 83% increase compared with the same…

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Money Statistics: November 2024

Here is an overview of The Money Charity’s latest statistics for November 2024 Personal debt in the UK People in the UK owed £1,868.1 billion at the end of September 2024. The average total debt per household, including mortgages, was £65,777 and per adult was £34,594, around 95.3% of average earnings. Net mortgage lending increased by…

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Energy price cap to rise by 1.2% from January

Energy regulator Ofgem has announced a 1.2% increase of the energy price cap for the period covering January-March 2025. The change to the price cap – which sets a maximum rate per unit and standing charge that can be billed to customers for their energy use – will rise by £21 for an average household…

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