Credit, Collections & Insolvency News
Tenants in privately rented properties risk ‘falling through the crack’ when it comes to the recently announced energy bill support, Citizens Advice has warned. The charity has conducted research which found more than one in eight private renters – equivalent to half a million (585,000) people – may miss out on vital support to cope…
Read more
The Government has announced a £15 billion package of support for UK households as inflation hits a 40-year high and energy bills soar. Measures, including a £400 discount on energy bills for all households and a £650 one-off payment for the poorest, will be partly funded by a windfall tax on oil and gas companies. These…
Read more
Households spent 7% more on their energy bills in April compared to March, as the increase in the energy price cap first hit household budgets. According to the latest Spending Power Report, which includes regular standing order and direct debit payments alongside card payments in its analysis, energy spending increased by almost a third (28%)…
Read more
The Government has launched a wide-ranging £375 million package of support for innovative energy technologies that will power British homes and businesses for decades to come and further strengthen the nation’s energy security. The strategy includes £240 million to support the production of hydrogen as a clean, low-cost energy technology, £2.5 million of funding to…
Read more
The UK’s energy crisis has prompted one in five (20%) consumers to rely on credit cards, loans and overdrafts to manage the mounting costs recorded over the last three months according to research by Credit Karma. The research found that the vast majority of consumers (78%) say they have experienced price hikes since the beginning…
Read more
Raman Bhatia, Chief Operating Officer of OVO has been appointed CEO of OVO’s retail business from 1st March 2022. Adrian Letts will be stepping down after three years of leading OVO through the acquisition of SSE Energy Services, the pandemic and the rise of gas prices. Bhatia has led the operations of OVO over the…
Read more
Ofgem has appointed Yü Energy Retail to take on supplying customers from Whoop Energy and Xcel Power. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of the suppliers have paid into their accounts will be protected, where they are in…
Read more
Ofgem has appointed EDFto take on supplying Zog Energy’s combined total of approximately 11,700 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers. Funds that current and former domestic customers of the suppliers have paid into their accounts will be protected, where they are in credit. Domestic customers will also be protected by the energy price cap with…
Read more