Credit, Collections & Insolvency News
National Energy Action research has found that nearly half of adults (49%) expect to ration energy in coming months as average bills set to rise by over £100. The data follows on from Ofgem’s announcement that the energy cap will rise by 6.4% in April with the average energy bill rising to £1,849 a year…
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Every energy supplier will be required to offer energy tariffs with low or no standing charges so customers can choose to pay these costs as part of the unit rate, under plans published by Ofgem. The regulator has launched a consultation on how proposals to introduce an option under the price cap that will cover…
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Citizens Advice says energy network companies, which provide pipes and cables to people’s homes, have made nearly £4 billion in excess profits over the last four years. During this time, the charity has helped a record nearly 700,000 people in England and Wales struggling to afford their energy bills, and five million currently live in…
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Energy bills are forecasted to rise by 5% from April, adding £85 a year according a latest forecast by consultancy Cornwall Insight. For a typical dual fuel household it is predicted that the April price cap to be £1,823 per annum. This is a rise of £85 and 5% from the current price cap which…
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New research by the Resolution Foundation has highlighted the challenges faced by the 4 million UK households who pay for energy via pre-payment meters (PPMs). High prices and the concentration of energy use in the winter months mean that, on average, households with a PPM will need to spend more than 30 per cent of…
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Energy regulator Ofgem has laid out plans to make firms offer tariffs without standing charges from next winter. The new plans also outline better support for households struggling with debt. The regulator will consult on introducing an option under the price cap to include zero standing charge tariffs alongside existing tariffs, offering consumers the ability to choose…
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E.ON Next has paid £14.5 million after failing to provide final bills and refund customer credit balances to prepayment meter customers. An investigation by the energy regulator, Ofgem, found almost 250,000 prepayment meter customer accounts were affected between February 2021 and September 2023 due to an error within its billing system, which E.ON Next self-reported…
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With energy bills are set to rise again, by 10%, from today (Tuesday 1st October), a new survey by fuel poverty charity National Energy Action and YouGov has found almost half (46%) of adults say they are likely to ration their energy use this winter – using less than they should for maintaining comfort and wellbeing. A…
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Energy regulator Ofgem has announced that, from the 1st October 2024, the price cap will increase by £149 to £1,717, an increase of 10% from the previous price cap which was £1,568. The price cap which sets a maximum rate per unit and standing charge that can be billed to customers for their energy use,…
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Cornwall Insights has forecasted that the October-December energy cap will drop to £1,723 a year for a typical dual-fuel consumer, a reduction of nearly £40 annually compared with our forecast in May. Cornwall Insights says that despite the drop in the prediction, this cap level would still represent a 10% increase from the £1,568 a year…
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Nearly 11 million households could risk overpaying on their energy bills by a collective £30 million if they delay submitting a meter reading before 1st July, research by Uswitch.com, the comparison and switching service, has found. To benefit fully from the new cheaper price cap which comes into effect in July, households on standard variable…
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Summer energy bills will fall to their lowest level since the beginning of 2022 as a result of the latest Ofgem price cap for July to September 2024 falling to £1,568. But the legacy of a 60 per cent rise in average energy bills in 2024 compared with three years ago still casts a long…
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Despite over half of British homes now having a smart meter, new research from Citizens Advice suggests millions of households are being let down by meter problems suppliers are failing to fix. The charity says new rules are needed to ensure energy suppliers identify and fix problems as quickly as possible. Citizens Advice is particularly…
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