Credit, Collections & Insolvency News
Small businesses say that the hike in energy prices following the war in the Middle East will cost them an average of £2,273.90 extra a month, according to new research conducted by Novuna Business Finance. Whilst many consumers have noticed prices soaring at the pumps, small businesses need energy in various other ways. The national…
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Data from Cornwall Insights has found that a typical gas and electricity bill is forecast to reach £1,929 a year from July under Ofgem’s quarterly price cap, up £288 (or 18%) from the current cap. The slight reduction in the forecast follows a partial steadying in wholesale markets after a pause in energy infrastructure strikes…
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New data by Age UK has found that more than one in four (28%) pensioners said they were struggling financially before war broke out in Iran, with energy being the main issue. Following on from the Government’s announcement this week providing £53m of support for oil-heated households, Age UK warns this package won’t be enough…
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Energy regulator Ofgem has announced a 7% (or £117) reduction of the energy price cap for the period covering 1st April to 30th June 2026. This change amounts to a reduction of around £10 a month for the average household using both electricity and gas. The price cap refers to the default tariff applied when a…
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The Government has announced that around six million low-income households will continue to receive £150 off their winter energy bills with the Warm Home Discount scheme extended by five more years. The Government’s expansion of the Warm Home Discount last year added 2.7 million families to the scheme, bringing the total number of eligible households…
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Ofgem has announced that household energy bills will rise to help fund a £28 billion investment to upgrade the UK’s energy network. The energy regulator said that it has approved more than £17.8 billion of spending plans to upgrade gas transmission and distribution networks in the five years from April 2026. The remaining initial investment…
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As people across the country battle an unrelenting living standards crisis, Citizens Advice has revealed reforming bill support across essential markets, including energy and water, could save eligible households a staggering £950 a year. That’s the equivalent of £79 a month, which amounts to an income boost of almost 6% for low-income households. Citizens Advice’s…
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Nearly one in three UK households are worried about paying their winter bills, according to new figures from Ocean Finance. With energy costs rising faster than many can cope with, families face a tough few months ahead whilst Ofgem warns that bills could rise by £75 next spring. The survey also revealed that 33% of…
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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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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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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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New research by the Personal Finance Research Centre at the University of Bristol, in partnership with Ofgem and StepChange Debt Charity has highlighted the critical role that effective referrals from energy suppliers to free debt advice can play in supporting households with energy debt, and where the energy sector can do more to protect vulnerable…
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More than seven million households need to read their meter by the end of the month to make sure they avoid higher energy rates from 1st October, according to research by Uswitch. Homes on a standard tariff with average usage are expected to spend £140 on energy in October, compared with £63 in September. The…
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