Credit, Collections & Insolvency News
Ofgem has announced that, following constructive engagement with Ofgem, CO-OP Energy has agreed to deliver additional energy efficiency measures after the company did not meet its Energy Company Obligation (ECO3). CO-OP Energy was a domestic supplier previously but exited the market in August 2019. It has committed to make up any shortfall in energy savings…
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CIVEA has alerted its members to the risks of media misreporting of the legal activities of civil enforcement agents. In a statement CIVEA said “We are concerned that conflating this issue is irresponsible and potentially dangerous, because it presents a threat to agents in the field where people may confuse what they do and subject…
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New research by Fuel Bank Foundation has revealed the extreme measures people with prepayment meters are taking to avoid being disconnected from their energy supply. A survey by the charity, which provides fuel vouchers to people who can’t afford to top up their prepayment meter, found that in the 12 months prior to receiving help…
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Business and Energy Secretary Grant Shapps has given energy bosses a deadline of Tuesday (7th February) to report back to him on what remedial action – such as providing compensation – they plan to take should they have wrongfully installed prepayment meters in the homes of vulnerable customers. The Business Secretary has today told Ofgem…
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Around 2.3 million households missed an essential payment in January, an increase of 400,000 on the month before, but similar to previous years according to new research by Which. The research found that 2.3 million households missed or defaulted on at least one mortgage, rent, loan, credit card or bill in January 2023. This marks…
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The annual bill for an average household in England and Wales will hit £448, industry body Water UK has said. The 7.5% increase means customers will mean that bills will rise by an average of £31 to £448 a year. It has also been announced that support for low-income households will also be increased to…
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The largest rise in the average household water and sewerage bill for almost 20 years could prove a tipping point for the one in five customers already struggling to pay. The Consumer Council for Water (CCW), the independent voice of water consumers, has issued the warning in response to Water UK confirming the average household…
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Information from Ofwat and CCW has shown that water companies are increasing financial support for their customers, with record numbers benefiting from discounted water bills. However, both organisations are calling on companies to do even more to help in the face of immediate and urgent cost of living pressures. In October 2022, Ofwat and CCW…
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The Business and Energy Secretary Grant Shapps is calling on suppliers to do more to protect vulnerable energy users and has pledged to crack down on the mistreatment of energy users by suppliers, following reports showing some are doing nowhere near enough to support vulnerable customers. Shapps has written to energy suppliers calling on them…
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Energy consultancy Cornwall Insight has predicted that energy bills are expected to fall to about £2,200 from July. The decrease will mean that typical annual household energy bills will have fallen from £4,279 now to £3,208 from April, and then will ease to roughly £2,200 for the remainder of the year. The forecasts show prices…
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In an open letter sent today to the Chancellor, Jeremy Hunt MP, 95 Charities and non-profit organisations across the UK have joined together to call for more targeted support in the form of a social tariff for the energy market to help older and disabled households heat their homes. New research by Age UK reveals strong…
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More than one in twenty are behind on their energy bills, which grows to around one in ten of those aged 16-49 and women according to latest Office for National Statistics (ONS) data. The figures also showed that 46% of people find it very or somewhat difficult to pay their energy bills – rising to…
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Centrica plc announces that Russell O’Brien will be appointed Group Chief Financial Officer (CFO) and an Executive Director on 1 March 2023. Kate Ringrose will step down as CFO and an Executive Director on 28 February 2023 and is expected to leave Centrica towards the end of 2023 after an orderly transition. Chris O’Shea, Centrica…
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