Credit, Collections & Insolvency News
Moving away from the Ofgem fixed price cap and towards a flexible system of energy pricing – where costs vary according to region and time of day – could reduce the price of electricity by 4p/kWh by 2040, offering households savings of £200 a year, on average according to Resolution Foundation research. The research notes…
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The Government has announced that the Warm Home Discount will be expanded, meaning 6 million households will receive £150 off their energy bills this winter. The Government says that this major expansion of support for working families is the latest in a raft of cost of living support made possible because the government has stabilised…
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Energy company Utilita will pay around £277,000 in compensation after failing to pay its Warm Home Discount payments on time, following a review by Ofgem. The regulator found that, in the scheme year covering 2023-2024, Utilita – which supplies 800,000 customers – failed to pass on the mandatory discount to more than 4,000 customers within…
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The Government has announced that more than three-quarters of pensioners will receive the winter fuel payment this year. The change wil mean that around nine million pensioners with an income of, or below, £35,000 a year receiving the benefit. The threshold is well above the income level of pensioners in poverty and is broadly in…
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New research by abrdn Financial Fairness Trust has found that over a third of households (34%) are cutting their use of water instead, with one-in-five (19%) reducing the number of showers or baths they take. The data showed that 24% report their energy bills have increased ‘a lot’ and 29% say their water bills have risen…
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Eight energy suppliers have committed to compensation and debt write off for at least 40,000 consumers who had an involuntary prepayment meter installed for issues including poor data quality and record keeping, and unfair treatment of customers following an Ofgem investigation. The investigation found that suppliers that fell short of required standards when trying to…
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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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