Credit, Collections & Insolvency News
The record energy price cap increase of £139 in October is set to push two in five families into debt with their supplier, according to the latest Household Financial Confidence Tracker from comparethemarket.com. 43% of families with children at home believe that if energy bills increase it will push them into debt with their energy…
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Credit Connect has confirmed the line-up for next week’s Credit & Collections Technology Awards which takes place at the Midland Hotel in Manchester next Thursday (4th November). The awards are judged by a panel of industry experts who have reviewed technological excellence in four different categories sections: creditor and lender, collections and recoveries, applied technology, and…
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Ofgem has appointed Shell Energy Retail to take on supplying Goto Energy’s approximately 22,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of Goto Energy have paid into their accounts will be protected, where they are in credit.…
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New research from the Consumer Council for Water (CCW) has found that two-thirds of complaints to water companies involve concerns over bills. CCW says that households have a right to expect clear and accurate water bills and be treated with empathy by water companies if they slip into debt. Bill concerns dominated two-thirds of the…
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Goto Energy has announced they are ceasing to trade. The company supplied gas and electricity to around 22,000 domestic customers. Under Ofgem’s safety net, customers’ energy supply will continue and funds that domestic customers have paid into their accounts will be protected, where they are in credit. Domestic customers will also be protected by the…
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Ofgem has appointed Shell Energy Retail to take on supplying Pure Planet, Daligas and Colorado Energy combined total of approximately 252,000 domestic customers and around 600 non-domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of the suppliers have…
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Gas-only retailer, Daligas, has confirmed it is ceasing to trade, blaming the unprecedented energy market conditions, the record high wholesale prices and the current energy cap. Daligas becomes the 15th energy company to go bust year meaning that a total of almost 2.4 million customers have now seen their energy supplier exit the market in…
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Two more UK energy firms have ceased trading amid soaring wholesale energy prices. Pure Planet and Colorado Energy have announced they are ceasing to trade. Pure Planet supplies gas and electricity to around 235,000 domestic customers and Colorado Energy supplies gas and electricity to around 15,000 domestic customers. The founders of Pure Planet have hit…
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New analysis of data by Lloyds Bank has found that its customers spent a fifth more on household energy (24%) and fuel (20%) in the last fortnight, compared to the two weeks before. Fuel spend peaked on 24th September (the day after one of the biggest UK petrol station operators said a number of its forecourts…
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Ofwat has urged the water sector to do more to make data open and accessible as a means to share information, collaborate on sector-wide challenges, and improve trust in the industry. The water regulator’s discussion paper says that open data means making data freely available to everyone to access, use and share, unless there’s a…
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The Credit Services Association (CSA), the UK trade association for organisations active in the debt collection and purchase industry, has written to Ofgem to seek clarification in respect of the standards customers should expect in regards to the practices of administrators and accounts in arrears. It has also asked for reassurance that the integrity and…
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Ofwat has published the results of its customer satisfaction and experience for water and wastewater companies in England and Wales over the last year. The top performers when it comes to customer satisfaction are Portsmouth Water, followed by Wessex Water, Northumbrian Water, with Dŵr Cymru coming in at fourth place. Thames Water are bottom of…
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Ofgem has appointed E.ON Next to take on supplying Enstroga, Igloo Energy and Symbio Energy’s combined total of approximately 233,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of Enstroga, Igloo Energy and Symbio Energy have paid into their accounts will be protected, where they are in…
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