Credit, Collections & Insolvency News
Energy regulator Ofgem has announced a 0.2% rise of the energy price cap for the period covering January to March 2026. Thd change amounts to a small increase of around 28 pence a month for the average dual fuel household. Year on year when adjusted for inflation the new cap is 2% or £37 lower…
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The winners of the 2025 Credit & Collection Technology Awards have been announced following a live in-person event yesterday (Thursday 20th November) at the Midland Hotel in Manchester. The awards are the flagship event for innovative technological professionals working in credit and collections and the eighth annual event honoured the UK’s technological innovators, celebrating outstanding…
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New Skipton Building Society research has revealed that 42% of over 65s are worried about this coming winter, with the cost of heating and energy bills topping their list of concerns (86 per cent), followed by the overall cost of living (76 per cent) and homes not being warm enough (58 per cent). To shine…
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Cornwall Insight has released its final forecast for the January – March 2026 Default Tariff Cap (price cap), following the closure of the observation window on 18 November. The new forecast predicts the cap will fall to £1,733 a year for a typical dual fuel household in the new year. This would represent a decrease…
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The average length of energy debt repayment plans for electricity usage has now surpassed five years, jumping from three years just 12 months ago. According to data from energy providers, obtained via a Freedom of Information (FOI) to the energy regulator Ofgem submitted by Compare the Market, energy bill payers on debt repayment plans for…
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Around 2 million struggling households are receiving lower water bills through water companies’ social tariff schemes to combat rising prices, according to new figures from The Consumer Council for Water (CCW). The report shows that England and Wales provided help to more than 1.96 million customers through social tariff schemes in 2024-25 – a rise…
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Energy regulator Ofgem is assigning a new supplier for 8,400 customers after energy provider Tomato Energy collapsed. Ofgem intervened to protect supply for all affected, confirming that energy provision and funds, including credit balances, are secured under its ‘supplier of last resort’ safety net. Tomato Energy was banned from taking on new customers in April…
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Ofgem has announced a new plan to tackle the growing crisis of energy debt through a new Debt Relief Scheme (DRS). The regulator has confirmed the first phase of the scheme will write off up to £500 million of historic debt built up during the energy crisis, with total energy debt across the UK now…
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More than a quarter of a million families will receive confirmation this week of their £150 discount on energy bills this winter, as part of the Government’s drive to help families tackle energy affordability. The Prime Minister took the decision last year to expand the Warm Home Discount to a further 2.7 million families, meaning six million households now receive…
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Energy UK is calling for sector regulator Ofgem to lose some of its current responsibilities to create a streamlined and more focused organisation better equipped to carry out its main duties. The Department for Energy Security and Net Zero is currently carrying out a review of Ofgem’s performance and its future role, and in a paper…
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Four million people in England and Wales are trapped in a negative budget, meaning they simply don’t have enough money coming in to pay for essentials like food, energy or housing, Citizens Advice is warning. The charity’s latest research shows on top of those in the red, hundreds of thousands more have cut their spending…
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A quarter (25%) of households will pay as much as four times more for the heat they use between now and 1st January 1st, by opting for a plug-in electric heater over gas central heating, according to new research by Utilita. The data reveals households still opt for an electric heater, despite the running costs…
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Renters are left with just an average of £440 of disposable income each month after paying for bills and essentials—almost half the £872 reported by homeowners. Yet despite tighter budgets, renters are more proactive in managing their money, with 27% checking their credit score monthly compared to just 20% of homeowners, according to new research…
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