Utilities

Money Statistics: July 2021

28th July 2021 Consumer Collections |

Here is an overview of The Money Charity’s latest statistics for July 2021 Personal debt in the UK People in the UK owed £1,721.3 billion at the end of May 2021. The average total debt per household, including mortgages, was £61,933 and per adult was £32,544, around 108.7% of average earnings. Net mortgage lending rose by…

Ofwat outlines its approach on how to address increases in bad debt

27th July 2021 Consumer Collections |

Water regulator Ofwat has outlined its view that levels of bad debt costs across the business retail market are exceeding 2% of non-household revenue. Ofwat has therefore decided a temporary increase in the maximum prices retailers are permitted to charge is warranted. Measures introduced since March 2020 to contain the spread of Covid-19 could lead…

Government reveals plans to drive down energy bills

23rd July 2021 Consumer Collections |

The Government has revealed proposals to trial automatic switching for customers on expensive default energy tariffs to cheaper deals, and government to tackle ‘loyalty penalty’. Business and Energy Secretary Kwasi Kwarteng published proposals to trial automatic switching for customers on expensive default energy tariffs to cheaper deals. Research has shown that while around 5.8 million…

Over 11m consumers could see energy bills increase by 20%

22nd July 2021 Consumer Collections |

New research by MoneySuperMarket has found that over 11 million consumers could see their energy bills balloon by 20% in 2021. The research found that bills for 11 million consumers on standard or default tariffs are set to rise by an unprecedented 20% since the start of the year it also found that energy bills…

One-third of households financially worse off this year

15th July 2021 Consumer Collections |

Ofwat has published its survey on consumer finances during the pandemic, showing a decline in mental health correlated with those financially struggling. It found more households were worse off in the past year than previously and many anticipated that to continue in the coming 12 months Ofwat has also set out a number of actions…

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