Credit, collections & insolvency news
Energy company, Maxen Power has paid £1.65 million for customer service failures. Maxen Power supplies more than 10,000 non-domestic energy customers. A recent investigation carried out by energy regulator Ofgem found that Maxen Power breached its licence conditions by not having robust systems in place to protect its customers. This allowed third-party reps to sign…
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Electricity bills for small industrial consumers, including large retail and leisure units as well as small manufacturers, are set to rise to around £200,000 more than pre-crisis levels in 2026 according to data from Cornwall Insight’s Business Energy Cost Forecast. The report revealed that small industrial businesses are predicted to be paying £550,000 annually (£238…
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Data from Cornwall Insight’s newly launched Business Energy Cost Forecast has revealed that a typical small business such as a pub, restaurant or independent retailer is paying over £5,000 more a year in energy bills than prior to the energy crisis, with bills predicted to rise further from the April 2025 – March 2026 contract…
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Proposals to expand protections to drive excellent customer service for businesses have been set out by Ofgem. The energy regulator has launched a statutory consultation on proposals to ensure businesses get the highest standards of service and provide more clarity on the costs being paid to third party energy brokers. Business groups have repeatedly told…
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Small businesses are calling for Ofgem to alter energy regulation with changes which will enable access to energy contract cooling-off period and standing charges freeze ahead of winter. Small businesses say that utilities remain a cost driver according to new research by the Federation of Small Businesses (FSB). FSB’s latest Small Business Index shows over…
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Business energy retailer United Gas & Power (UGP) has been hit with a £2.1 million financial penalty for multiple breaches of its licence conditions. A two-year investigation by Ofgem concluded that UGP deliberately overcharged customers, did not return credit balances owed to former customers and repeatedly failed to properly communicate at time of contract renewal.…
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The Institute of Directors (IoD_ has written to Ofgem urging them to take action to secure a well-functioning energy market for non-domestic customers. Recent IoD data highlighted that one in five (18%) respondents encountered at least one form of negative behaviour when asked if they had experienced disadvantageous treatment by energy suppliers in the previous…
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The Government has announced that it will reduce support for businesses with energy bills after warning that the current level of help was too expensive. Under the new scheme, firms will get a discount on wholesale prices rather than costs being capped as under the current one. Heavy energy-using sectors, like glass, ceramics and steelmakers,…
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The Government has announced a new scheme that will see energy prices for non-domestic energy customers such as businesses, charities and public sector organisations cut – protecting them from rising energy costs. Through a new Government Energy Bill Relief Scheme, the Government will provide a discount on wholesale gas and electricity prices for all non-domestic…
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New Prime Minister Liz Truss has announced that businesses will get help with their energy bill with prices capped for six months. Responding to the announcement, National Chair of the Federation of Small Businesses (FSB) Martin McTague said “It’s a huge relief for millions of small businesses to hear confirmation they will be part of…
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Energy UK has written to the Chancellor of the Exchequer ahead of the new Prime Minister starting work next week, setting out possible measures which could help non-domestic customers facing steep rises in their energy costs. While domestic customers are facing a big increase in bills, which was confirmed by Ofgem’s price cap announcement last week, non-domestic…
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A study by energy analysts Cornwall Insight shows that SMEs have already seen average gas bills climb more than 250% between the first three months of 2021 and Q1 2022. Analysts looked at delivered gas prices businesses pay on a 1-year acquisition fixed tariff, calculating how much they may pay in future if energy prices…
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New analysis by the Federation of Small Businesses (FSB) has shown a £10,000 increase in small business utility bills ahead of Spring Statement. The analysis shows that electricity and gas bills will increase from £4,724.73 to £11,589.89 (+145%) and from £1,345.07 to £4,815.36 (+258%) respectively for a small business in London with commercial premises between…
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