Credit, Collections & Insolvency News
Almost half (46%) of all adults have identified energy bills as their biggest financial concern heading into this winter according to research by Finder.com. Single-person households were the most apprehensive, with more than half (53%) of those living alone saying that energy bills are one of their biggest financial concerns heading into winter. This was…
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One in four people with energy debts (24%) are currently unable to repay, according to new research commissioned by National Debtline. The free debt advice service is leading a coalition of 13 organisations calling on the Chancellor to introduce a ‘Help To Repay’ scheme in the Autumn Statement. The findings, based on UK-wide research commissioned…
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Progress on rolling out smart energy meters remains too slow, and the Government has not done enough to convince the public of their benefits. A report published by the Public Accounts Committee (PAC) has warned that not enough has been done to ensure that the rollout, which has failed to meet its original targets and…
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Energy suppliers must prioritise enquiries from vulnerable customers who need help under new rules announced by Ofgem. The requirements, which take effect from December, will require suppliers to contact customers if they miss two monthly or one quarterly payment, check to see if they are struggling with bills and, if so, offer support such as…
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Household energy debt has hit a five-year high of £216 ahead of the winter, with the number of homes already owing money to their provider up 11% on last year new research from Uswitch.com, has revealed. The average household debt is up 13% on the £190 figure seen at this time last year, and the number…
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Ofgem has announced that it has appointed five New Non-Executive Directors. Responsible for bringing independent oversight and support, the new Non-Executive Directors will help guide Ofgem’s work on current and future challenges – from restoring resilience in the energy market to maintaining progress towards the UK’s net zero goals. The 5 appointees, who take up their…
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Fourteen energy retail companies have announced their collective commitment to go above and beyond current licensing conditions to help households struggling with energy bill debt this winter. The Winter 2023 Voluntary Debt Commitment, developed with Energy UK, Ofgem and Citizens Advice, means that energy suppliers are going further than existing regulatory obligations to provide better support…
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Energy regulator, Ofgem has announced the launch of a consultation to assesss options to protect the energy market and consumers from the risk of spiralling debt. Figures obtained by the regulator this summer show that energy debt reached £2.6 billion, its highest ever level, due to a combination of the rise in wholesale energy prices,…
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Water watchdog CCW has said it has seen a 29% rise in complaints made to it about water companies in the first quarter of the current year with poorest performers failing to get to grips with high levels of customer complaints. 232,817 complaints were made to water companies in England and Wales by households in…
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Consultancy firm Cornwall Insight predicts that annual energy bills for a typical household are expected to rise by £73 to £1,996 in January. Under Ofgem’s energy price cap, the typical annual bill will be £1,923 between October and December, with this down from the £2,074 seen in the July through September quarter. Dr Craig Lowrey,…
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EDF Energy has reported that the number of homes falling into debt on their energy bills has increased by 36% since the beginning of the year. The company also said standing charges on energy bills have increased by 55% since April 2021. The energy company has announced that it is boosting support for vulnerable customers…
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Water companies will submit to Ofwat their plans for the next price review period from 2025-2030. The plans will be subject to scrutiny and challenge by Ofwat before final decisions are made in December 2024. Ofwat has told companies that they must be ambitious in their plans to reduce pollution, while delivering value for money for…
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Latest data from, energy efficiency platform, Snugg has found that many people feel they are wasting money on energy bills because of their home’s poor energy efficiency. And while most would like to make their home more efficient, there is mass confusion over how and what help is available. The research found that 32% feel…
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