Credit, Collections & Insolvency News
New research from Bulb, the green energy company, has revealed that a quarter of consumers under 35 still turn to their parents for help understanding their energy bills and many don’t understand common utility bill terms.. Over half (52%) of all consumers said that they’d like more resources from their energy supplier in order to…
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Ofgem has appointed EDF to take on supplying Utility Point’s approximately 220,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. EDF is offering customers a competitive tariff. Outstanding credit balances, including money owed to both existing and former customers of Utility Point will also be…
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Ofgem has confirmed two more energy companies are to exit the market impacting more than half a million customers People’s Energy, a social enterprise formed in 2017, supplied 350,000 consumers and 1,000 non-domestic customers, while Utility Point had 220,000 billpayers. Under Ofgem’s safety net, the energy supply of Utility Point and People’s Energy customers will continue and outstanding credit balances…
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Ofgem has appointed British Gas to take on supplying PfP Energy’s approximately 82,000 domestic customers and 5,600 non-domestic customers, and MoneyPlus Energy’s approximately 9,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. For existing customers of both failed suppliers, energy supplies will continue as normal as they switch over to British Gas. Customers of PfP Energy and MoneyPlus Energy will be contacted over the…
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South East Water has announced that it has launched a data-sharing partnership with a Kent council to identify low-income customers and automatically transfer them to its social tariff. The project involves Maidstone Borough Council (MBC) sharing data with South East Water to identify householders on low income who are eligible for a social tariff. This…
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Thames Water has agreed to pay over £11 million to 13,800 non-household customers and water retailers for errors in its data which led to customers being billed the wrong amount. In addition to the compensation package, the water company has proposed a series of undertakings which, among others, include strengthening its internal processes and controls…
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Energy regulator, Ofgem has appointed E.ON Next to take on customers of Hub Energy. Hub Energy had approximately 6,000 domestic customers and 9,000 non-domestic customers. Ofgme says that the appointment ollows a competitive process run by Ofgem to get the best deal possible for customers. E.ON Next is offering customers a competitive tariff. Outstanding credit…
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Payment services provider Paypoint has offered to pay £12.5 million into Ofgem’s voluntary redress fund following an investigation into whether it breached competition rules. The investigation was opened in 2017 and looked into whether the company had abused a dominant position in a way that was likely to restrict or distort competition in the market…
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Energy supplier Hub Energy has ceased trading. Energy regulator Ofgem, the outstanding credit balances of the company’s 6,000 domestic customers and 9,000 non-domestic customers will be protected and a new supplier found. Ofgem will choose a new supplier to take on all of Hub Energy’s customers. This supplier will contact these customers shortly after being…
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Energy regulator Ofgem has announced that the energy price cap will increase from 1st October for the 15 million customers it protects. Those on default tariffs paying by direct debit will see an increase of £139 from £1,138 to £1277. Prepayment customers will see an increase of £153 from £1,156 to £1309. The regulator says…
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Over a quarter (27%) of household bill-payers say an increase of more than £10 a month in their energy bills could force them into debt. The research by USwitch.com is just days ahead of an expected hike in the price cap which will be announced by the energy regulator, Ofgem, which is due to announce…
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Energy suppliers have increased the cheapest energy deals by £180 in a year, since the start of July 2020, with the new price cap level expected to rise for millions of households, according to research from comparethemarket.com. The increase comes as energy deals have reached the highest cost for more than two years. The average…
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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…
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