Estimates of how much money energy companies might make have been wildly exaggerated in recent years. New, independent research from NERA has found Ofgem estimates have been consistently out over the last four years by as much as 200 per cent. This is despite Ofgem revising its methodology in recent months.
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One million UK homes have received energy efficiency measures thanks to the Energy Company Obligation (ECO) and Green Deal. The energy industry has worked tirelessly to meet its obligations with 97% of home improvements being a result of ECO. The industry is committed to helping households improve their energy efficiency as a means of saving money and keeping warm.
Customer service is a key priority for energy companies which is why they have been investing in new systems, staff and new cheaper tariffs. Change takes time in an industry as large as the energy sector. It is heartening to see that Which?’s customer satisfaction score has improved, however we do not underestimate the challenges ahead. This comes at a time when the best tariffs are up to 10 per cent cheaper than this time last year.
Paying for gas and electricity can be a real concern this time of year. Energy companies have put a number of systems in place to protect the most vulnerable, especially lower income families with children. The Energy UK Safety Net was set up to vulnerable people do not get cut off, if they are unable to pay their bill. The scheme includes specific protections for families with young children. It is important for customers to notify their supplier immediately if their situation has changed and they are worried about paying their energy bill.
The energy industry welcomes new rules to make sure price comparison sites are as transparent as possible with consumers.
Energy UK has responded to the letter received from Fergus Ewing MSP regarding falling oil prices.
Energy UK, BEAMA, Energy and Utilities Alliance and Community of Meter Asset Providers are pleased to announce the appointment of Gemserv as the Smart Metering Device Assurance Scheme Operator. Gemserv will be tasked with establishing an independent assurance scheme to encompass interoperability and interchangeability testing for smart metering equipment.
Millions of customers will benefit from a £6 million boost to energy companies’ trust funds and chosen charities, Energy UK said today. The six largest suppliers have agreed to donate money that has been paid, but for which no energy company can be found.
3.1 million customers changed electricity supplier in 2014, latest Energy UK figures reveal today. The monthly switching data also shows that 1.1 million customers moved from a large company to a small one. Chief executive, Lawrence Slade, said the numbers represented the highest annual net gain for small suppliers since Energy UK records began and more than double the number moving to small suppliers in 2013. He said that, on average, 36 per cent of switches each month were moves to a small provider.
Customers will now be able to switch suppliers in half the time, says Energy UK. It is now possible to change provider in 17 days, down from five weeks: three days for companies to make the switch and two weeks to protect customers’ legal cooling off rights.