Credit, Collections & Insolvency News
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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Energy regulator Ofgem has announced a 13% increase in the energy price cap for the period covering 1st July to 30th September 2026. The price cap refers to the default tariff applied when a customer has not signed for a fixed-rate tariff. It sets a maximum rate per unit and a standing charge that can…
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Energy bills are forecast to rise by £209 to £1,850 a year for a typical dual fuel household from July, according to Cornwall Insight’s final forecast for the July – September 2026 Default Tariff Cap (price cap), released following the close of the observation window on 18th May. The new cap would represent an increase…
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Energy regulator Ofgem has announced it closed its investigation into British Gas on its treatment of customers who had a prepayment meter (PPM) installed without their permission, with consumers set to benefit from the settlement agreement made with the regulator. Ofgem’s investigation concluded that British Gas failed to meet the standards required of an energy…
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Water companies are failing to win back customers’ trust amid deepening concerns over the fairness and affordability of water bills, a new report has revealed. Trust in water companies across England and Wales has reached a new low, according to the Consumer Council for Water’s (CCW) annual Water Matters report, which has been tracking household…
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Billpayers are set to benefit from a stronger energy regulator, under reforms of its remit set out by the Government. The transformation will empower the energy regulator, Ofgem, to ensure energy consumers are treated fairly, including measures to guarantee good market practice. This is the first major update to Ofgem’s scope since the regulator was…
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Rising energy prices caused by the war in the Middle East will cause a drop in living standards for households, according to new analysis by the Resolution Foundation Despite some lower-income households receiving a long-overdue real-terms increase in their benefits, we now estimate – based on market-forecasts for the rise in energy prices consistent with…
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