Credit, Collections & Insolvency News
The impact of forced transfer of households onto more expensive Pre-Payment Meters (PPMs) has led the End Fuel Poverty Coalition to call for an immediate ban on their imposition. Energy firms’ licence conditions protect many vulnerable people from formal disconnection over the winter, however evidence from End Fuel Poverty Coalition members shows that customers in debt…
Read more
Energy regulator Ofgem has announced its quarterly update to the energy price cap for the period 1st January – 31st March 2023. The price cap is set to rise to an annual level of £4,279 in January 2023, but bill-payers remain protected under the government’s Energy Price Guarantee (EPG). The energy price cap level indicates…
Read more
Ofgem has said that energy firms have been failing vulnerable customers. The energy regulator Ofgem has told all 17 firms in its review to improve, with Good Energy, Outfox, So Energy, Tru Energy and Utilita found to have severe weaknesses. Ofgem said that initial assessment and ratings were formed, many suppliers have already responded positively…
Read more
Over 27 million households across UK received money off their energy bills last month as the Energy Bills Support Scheme (EBSS) provided £1.8 billion in payments. New figures released today show the EBSS successfully provided a £66 discount for 97% of eligible households in England, Scotland and Wales in its first month. This is the…
Read more
Eight out of ten (82%) people who live in shared rented properties say that the rising cost of household bills is likely to cause more arguments between them and their housemates within the next six months, according to new research from Comparethemarket. Nearly three-in-five (58%) say that higher energy bills are already causing tension among renters…
Read more
Older people will spend a higher share of their income on energy bills this winter than other age groups – with the over-75s expected to spend 8 per cent of their total household income on bills, even with significant government support – but younger households are most at risk of being unable to pay bills…
Read more
New research from specialist lender Hodge has found 88% of British householders is concerned about the rising cost of energy. When asked if they have changed the way they run their homes in light of increased energy costs, 69% revealed they had done that too. Hodge asked 2,000 people how they felt about the current state…
Read more
A report by the Public Accounts Committee has called on the Department for Business, Energy and Industrial Strategy (BEIS) and Ofgem to say how they will make the energy retail market work in the best interests of customers during the transition to net zero” after finding that failures at the energy regulator have come at…
Read more
Anglian Water has announced a £135 million support package for customers struggling to pay their bills, which will include discounts on tariffs of up to 50%, as well temporary payment plans, forgiveness schemes and payment breaks. The company said the financial assistance is expected to help around 330,000 customers over the next year. Anglian Water…
Read more
The Government has approved a deal between the administrators of Bulb and Octopus Energy to acquire the failed supplier. It will see the Government meet the cost of buying energy for Bulb customers over the winter, with a profit-sharing agreement put in place until Octopus has paid off the debt. The move comes after an…
Read more
Uswitch is calling on the Government to ensure that prepayment meter customers at risk of self-disconnection are considered the highest priority for additional support beyond April 2023. Uswitch says that the energy crisis has reversed a long-term trend for falling numbers of prepayment meters, putting thousands more households at risk of self-disconnection. From the middle of…
Read more
Portsmouth Water has announced a new strategic partnership with the nationwide bereavement service Settld. Settld will streamline end-of-life account administration for those handling the affairs of a Portsmouth Water customer who has died. The partnership has also initiated a new support service for the water company’s vulnerable customers. Bereaved individuals who use Settld’s form to…
Read more
Ofwat and CCW have asked water company executives to set out how they will support households struggling with affordability, particularly as inflation hits customers who would not be eligible for social tariff or other financial support mechanisms. In a joint letter to water and wastewater company CEOs, David Black, Chief Executive of Ofwat and Emma…
Read more