Credit, Collections & Insolvency News
In an open letter sent today to the Chancellor, Jeremy Hunt MP, 95 Charities and non-profit organisations across the UK have joined together to call for more targeted support in the form of a social tariff for the energy market to help older and disabled households heat their homes. New research by Age UK reveals strong…
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Almost half a million (450,000 people) could be made to pay their energy bills with a prepayment meter by the end of 2022 because they’ve fallen into debt according to new analysis from Citizens Advice. The charity analysed Ofgem data on the number of customers moved to prepayment meters due to their existing debt to…
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The decision by Liz Truss’s government to support energy spending could make blackouts more likely, according to analysis by the Resolution Foundation The Foundation says Liz Truss’s first major act as Prime Minister has been to set out an energy support package to hugely reduce the scale of the living standards catastrophe this winter by covering…
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The energy price freeze still leaves low-income families facing a vast gap compared to last year as rising costs outstrip government support, new research by the Joseph Rowntree Foundation (JRF) has found. JRF estimates today’s announcement – that energy prices will be capped at £2,500 including the £400 energy bill rebate – is worth on…
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New Prime Minister Liz Truss has announced plans that will limit energy bill rises for all households for two years. The measures will mean that a typical household energy bill will be capped at £2,500 annually until 2024, saving households £1,000 a year on the energy price cap announced for October. Commenting on the announcement…
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Energy bills could hit £5,300 a year by next April according to predictions by Cornwall Insight. The research has found that households will face an 80% rise in bills going into the winter period when energy use soars. The predictions show a typical household will be paying £3,553 equivalent per year for their energy bills.…
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New analysis published by the TUC has shown that energy bills are now expected to cost more than two months of average take-home pay in 2023 – without government intervention. Average take-home pay (after tax) will be £2,054 per month in 2023 based on Bank of England forecasts, so at £4,108, two months’ pay will…
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With the latest projections from Cornwall Insight pointing to the next price cap exceeding £3,300 this winter, Energy UK is calling the Government to again look at actions that could reduce customer bills. These could include removing VAT from bills, moving existing levies onto general taxation and seeing whether other costs can be spread over a…
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Over half (58%) of people were most concerned about energy bills. This compared to 12% who were most concerned about transport and 8% who were most concerned about food and other household essentials according to new survey by BEIS The survey found that around one in ten (11%) were equally worried about all of them…
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