Credit, collections & insolvency news
Scottish Power Energy Retail says it will pay £1.5 million in refunds and compensation after it charged customers above the price cap during the height of the energy crisis. Ofgem agreed the redress package after the supplier confirmed that between 2015 and 2023, it mistakenly overcharged 1,699 direct debit customers a higher rate, which should…
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A consultation on how to develop the price cap so customers remain protected as the energy market evolves to a smarter, more flexible system has been launched by Ofgem. The price cap, along with the temporary ban on acquisition-only tariffs, have worked well to protect customers from the ‘loyalty penalty’ where customers on default tariffs…
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Chief Executive Officer’s of Energy suppliers have been reminded of their responsibility to treat customers fairly when installing involuntary prepayment meters, ‘Pay as you Go’ meters, and that they must follow Ofgem’s new rules or face tough action and fines. The warning from Ofgem’s Director General for Markets, Tim Jarvis, in a letter, comes as…
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6.5 million people in the UK (14 percent) will struggle to heat their homes as much as they need this Christmas due to the impact of the cost of living, according to findings from National Debtline. The findings show 2.7 million people (5 percent) are having to choose between buying food or presents and four…
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Latest data from, energy efficiency platform, Snugg has found that many people feel they are wasting money on energy bills because of their home’s poor energy efficiency. And while most would like to make their home more efficient, there is mass confusion over how and what help is available. The research found that 32% feel…
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Ofgem has announced that energy suppliers have been banned from forcibly installing prepayment meters for people over 75 with no support in their house and homes with children aged under 2, The energy regulator has confirmed that the Code of Practice for the involuntary installation of prepayment meters (PPMs) will be made mandatory. It has…
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New analysis from Cornwall Insight and Smart Energy GB has revealed the substantial cost-saving potential of household flexible electricity initiatives such as time-of-use tariffs, smart meters, solar PV, and batteries. The data reveals national wholesale and system electricity costs could be cut by an annual £4.6bn in 2030 and £14.1 billion in 2040 if flexible energy solutions…
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Domestic energy supplier E.ON Next has been ordered by Ofgem to pay £5 million in compensation for poor standards of customer service. Throughout 2022, energy regulator Ofgem conducted a series of Market Compliance Reviews (MCRs), examining energy suppliers’ performance on key areas across the sector in a bid to drive up standards. One of these…
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Ofgem has said that energy firms should start compensating customers whose homes were wrongfully fitted with a PrePayment Meter (PPM), without waiting for the results of a major review The energy regulator has announced the launch of urgent work with stakeholders to look at what further protections may be needed within the rules, regulations and…
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Improving the energy efficiency of the UK’s buildings will permanently bring down energy bills for households and boost energy independence, say four leading associations. Energy UK, the Local Government Association, the Federation of Master Builders and the National Housing Federation are calling on the Government to continue to prioritise energy efficiency as a core solution…
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Over three million low-income households have said they have not been able to keep their home warm because they aren’t able to afford it as dangerously cold weather sets in according to new research by the Joseph Rowntree Foundation (JRF). JRF says plummeting temperatures terrify the hundreds of thousands of low-income households who can’t afford…
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Energy regulator Ofgem has announced its quarterly update to the energy price cap for the period 1st January – 31st March 2023. The price cap is set to rise to an annual level of £4,279 in January 2023, but bill-payers remain protected under the government’s Energy Price Guarantee (EPG). The energy price cap level indicates…
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New research from specialist lender Hodge has found 88% of British householders is concerned about the rising cost of energy. When asked if they have changed the way they run their homes in light of increased energy costs, 69% revealed they had done that too. Hodge asked 2,000 people how they felt about the current state…
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