Credit, Collections & Insolvency News
The winners of the 2025 Credit & Collection Industry Awards have been announced following a live in-person event yesterday (Thursday 22nd May) at the Milner Hotel in York There were eighteen winners (four of which were partnership wins) from the twenty awards categories, which were presented by awards compare’ Brennan Reece. The Credit & Collections…
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Energy regulator Ofgem has announced a 7% reduction of the energy price cap for the period covering July to September 2025. A recent fall in wholesale prices is the main driver of the overall reduction, accounting for around 90% of the fall. The remainder is primarily due to changes to the operating cost allowances energy…
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The annual cost of household bills has risen by £112 on average year-on-year, according to new research by Compare the Market. The research analyses the cost of energy, water, home insurance, motor insurance, and council tax. It reveals that the combined cost of these household bills has risen by 2% on average, compared to 12…
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Ten energy suppliers will pay £7 million in compensation and refunds after overcharging more than 34,000 customers, following a review by the energy regulator Ofgem Ofgem said the suppliers had agreed to pay more than 34,000 customers compensation and refunds because of erroneously billing them more for standing charges than is allowed under the regulator’s price cap.…
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Good Energy has paid over £150,000 in compensation and redress after failing to provide final bills and refund credit balances to prepayment meter customers. An investigation by the energy regulator, Ofgem, found that 2,284 prepayment meter customer accounts were affected between 2014 and October 2023 due to an error within its billing system. As a…
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New forecasts from Cornwall Insight predict a typical dual fuel consumer’s energy bill will fall to £1,683 from July, this would represent a drop of almost 9% on April’s £1,849 cap, with an average customer paying £166 less. a mix of geopolitical and market developments, including the United States’ decision to introduce tariffs, and the…
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The UK’s ongoing cost-of-living crisis remains significant, with new figures revealing a sharp rise in housing costs and debt levels, according to research by Money Wellness. The data, which tracks household finances from the fiscal year 2023/24 to the first quarter of 2024/25 (prior to April’s price increases), shows that ,ortgage payments have surged by…
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Ofgem has appointed British Gas to take on supplying Rebel Energy’s 84,000 domestic customers and 6,000 non-domestic customers. This follows a competitive process run by the energy regulator. Funds that current and former domestic customers of the supplier have paid into their accounts will be protected, where they are in credit. Domestic customers will also…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s second annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 97 entrants (whittled down from over 100 entries) from 73 companies within the shortlist, there are 23 partnerships in the running to win across the 20 categories.…
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Energy firm Rebel Energy has entered administration. The energy firm had around 80,000 customers. Energy regulator, Ofgem will appoint a new supplier for customers. The customers will now be left without a supplier, however, they won’t see any disruption to their energy supply as they are protected by Ofgem rules. Tim Jarvis, a…
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New research by SunLife has found that seven in ten over 50s are struggling with their water bills. The average water bill is set to rise by an average of between £79 and £224 with 71% are already spending more on their household bills than they were a year ago, while 61% are spending more…
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As consumers brace themselves for the higher prices kicking in from today (1st April) across bills including energy, water and broadband, those on the lowest incomes are running out of options, Citizens Advice warns. Households in the lowest 10% for income already spend around two-fifths (41%) of their earnings, after housing – on water, energy,…
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Ahead of the April Default Tariff Cap (price cap) rise, Cornwall Insight has released new forecasts for the July 2025 cap. The July cap is forecast to fall to £1,712 a year for a typical dual fuel consumer, slightly lower than our predictions in February. The fall would represent a 7% drop on April’s £1,849…
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