Credit, Collections & Insolvency News
Ofgem has appointed British Gas to take on supplying Rebel Energy’s 84,000 domestic customers and 6,000 non-domestic customers. This follows a competitive process run by the energy regulator. Funds that current and former domestic customers of the supplier have paid into their accounts will be protected, where they are in credit. Domestic customers will also…
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Credit Connect has announced the shortlist of companies and partnerships for this year’s second annual Credit & Collections Industry Awards. The finalists for this year’s awards consist of 97 entrants (whittled down from over 100 entries) from 73 companies within the shortlist, there are 23 partnerships in the running to win across the 20 categories.…
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Energy firm Rebel Energy has entered administration. The energy firm had around 80,000 customers. Energy regulator, Ofgem will appoint a new supplier for customers. The customers will now be left without a supplier, however, they won’t see any disruption to their energy supply as they are protected by Ofgem rules. Tim Jarvis, a…
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New research by SunLife has found that seven in ten over 50s are struggling with their water bills. The average water bill is set to rise by an average of between £79 and £224 with 71% are already spending more on their household bills than they were a year ago, while 61% are spending more…
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As consumers brace themselves for the higher prices kicking in from today (1st April) across bills including energy, water and broadband, those on the lowest incomes are running out of options, Citizens Advice warns. Households in the lowest 10% for income already spend around two-fifths (41%) of their earnings, after housing – on water, energy,…
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Ahead of the April Default Tariff Cap (price cap) rise, Cornwall Insight has released new forecasts for the July 2025 cap. The July cap is forecast to fall to £1,712 a year for a typical dual fuel consumer, slightly lower than our predictions in February. The fall would represent a 7% drop on April’s £1,849…
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Nine million households need to read their meter by 1st April to avoid the risk of overpaying on their energy bills by a collective £34 million, according to research by Uswitch.com, the comparison and switching service. To avoid the higher price cap, which comes into effect on 1st April, households on standard variable tariffs (SVTs)…
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A new Public Accounts Committee (PAC) report has warned that bill payers remain exposed to another energy crisis while facing ‘worryingly high’ energy debts and some of the highest electricity costs in the world. The public accounts committee (PAC) said that the Government has more to do to convince Parliament of the security of UK…
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A new survey by Ocean Finance has found that 73% are worried about affording their essential bills this Spring. Millions of households across the UK are set to be hit with yet another wave of bill increases this April, with hikes expected across council tax, broadband, water, energy, and phone contracts. 42% say they’ve already…
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A new study by Go.Compare has revealed that an estimated 6.6 million people now rely on their credit cards to pay everyday bills such as groceries and utilities. In total, 17% said they need their card to afford their bills, with 13% stating that the cost of living crisis is the reason for this. This…
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The Consumer Council for Water (CCW) is urging households to steal a march on April’s wave of bill rises through simple actions, which could help shave hundreds of pounds off water and energy costs. The consumer body is concerned many of the most vulnerable households will struggle to cope with next month’s ‘perfect storm’ of…
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StepChange Debt Charity’s 2024 Statistics Yearbook, published to mark the start of Debt Awareness Week, has revealed tha the average StepChange client is £3,911 in arrears on household bills, a jump of 25% from £3,124 in 2023. Overall, the average amount of debt per StepChange client jumped 7%, from £16,706 in 2023 to £17,936 in…
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Energy UK has warned that urgent action is needed to bring down energy bills in line with Government targets. The Government has set an ambition of reducing energy bills by ‘up to £300’ by 2030. A new report has highlights that reducing reliance on international gas prices is the only long-term solution. Being at the mercy…
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