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High Consumer Confidence in Supplier Switching

By : Business Save |June 19, 2019 |Energy Blog |0 Comment

New Record Set For Customers Switching Suppliers

The highest ever number of consumers switching energy supplier over the course of one month was recently recorded. Over 600,000 energy customers switched their supplier during April, which trade association Energy UK says is a new record.

That total amount of energy supplier switches has now risen to over two million so far in 2019. That is an increase of 18% over the the same period last year.

The exact number who switched this April is 668,371, a massive increase of 34% on April of 2018.

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Refunds for delayed refunds when switching energy suppliers

By : Business Save |June 11, 2019 |Energy Blog |0 Comment

Delayed Refund Compensation for Supplier Switchers

When you switch energy suppliers you will now receive compensation for any delayed refunds of owed money if you meet new requirements. The new measure has been introduced by industry regulator Ofgem to placate customers and incentivise suppliers.

Ofgem insist that energy suppliers must return the final credit balance to switching customers promptly, or pay a compensatory amount. The new measure began at the beginning of May.

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Scotland Introducing Independent Consumers Commission

By : Business Save |June 06, 2019 |Energy Blog |0 Comment

Scotland Introducing Independent Consumers Commission

The Scottish Government had revealed a plan to empower energy consumers by establishing an independent consumers commission. The aim is to provide customers with a ‘more powerful voice’ in both Scotland and the UK’s energy policies.

Expert advisors and consumer groups, including industry regulator Ofgem, have all helped develop the Energy Consumer Action Plan.

The plan hopes to make policy and regulatory decision-making more concerned with the interests of the people. The plan also includes proposals to develop a charter urging signatories to address a variety of consumer issues.

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Business Save – Ofgem Announce New Supplier Licensing Requirements

By : Business Save |May 03, 2019 |Energy Blog |0 Comment

 Business Save – Ofgem Announce New Supplier Licensing Requirements

New firms applying for a licence to supply energy will have to undergo more stringent tests from June. This is according to UK energy industry regulator Ofgem, who had previously stated their intention to introduce new measures. The tests are being introduced in order to raise standards for customers and reduce the risk of suppliers going bust.

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ScottishPower to Fund Climate Change Training

By : Business Save |April 25, 2019 |Energy Blog |0 Comment

ScottishPower to Fund Climate Change Training

UK energy supplier ScottishPower is to fund another training programme on climate change for teachers in Scotland. The new project will see 100 more primary school teachers receive training on issues such as reducing waste and recycling.

This is the second such scheme that ScottishPower has been involved with. Last year they piloted the Climate Change Initiative in collaboration with climate change experts from the Glasgow Science Centre. The experts conducted training sessions with over a hundred teachers originally, exploring climate change through science, engineering, technology and mathematics.

ScottishPower has now declared they will provide additional funding for another hundred teachers to be trained over the coming year.

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Ofgem Proposes End to Npower’s Switching Trial

By : Business Save |April 17, 2019 |Energy Blog |0 Comment

Ofgem Proposes End to Npower’s Switching Trial

The UK energy industry regulator Ofgem has proposed an end to the provisional order imposed on supplier Npower last November.

The provisional order was introduced to force the supplier to co-operate with Ofgem’s Active Choice Collective Switch Autumn Trial. However, the energy supplier’s reluctant conduct throughout the trial has left Ofgem disappointed.

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Green Energy Supplier Posts £1.1m Profit

By : Business Save |April 09, 2019 |Energy Blog |0 Comment

Green Energy Supplier Posts £1.1m Profit

One of the UK’s green energy suppliers has reported a continuing operations profit of over a million pounds for 2018. The Good Energy Group serviced almost 260,000 customers last year, an increase of 0.2% on their 2017 customer numbers.

Although Good Energy’s operations profit of £1.1m is actually down 17.4% year-on-year, their revenues have increased by 11.9% to £116.9m. Much of that increase is due to the harsh weather conditions that marked the beginning of 2018.

Gross profit for Good Energy was also up 12%. However, that profit was partly due to them introducing a domestic price hike much earlier than in previous years.

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