Award for Lawrence Gosden comes despite criticism over business plan and attempts to increase bills by 73%
The chief executive of Southern Water has received a £183,000 bonus despite submitting a business plan that has been criticised by the industry regulator and attempting to raise bills more than any other English water company.
Lawrence Gosden received the bonus as part of a £764,000 pay package, up from £428,000 a year earlier, according to the company’s annual report.
Continue reading...Charity says tech problems and poor customer service mean millions in Great Britain missing out on promised benefits
The number of gas and electricity smart meters that are not working properly is likely to be higher than government figures suggest – possibly 20% to 30% of the total – according to research from Citizens Advice.
The charity said millions of households were missing out on the promised benefits from smart meters due to “problems with technology” and poor supplier customer service.
Continue reading...Home workers aim to tackle smelly athleisure clothing, save money and be kinder to the environment
For years, laundry detergents have focused their cleaning power on stain removal and getting whites white but now a new invisible enemy has emerged in the shape of the musty smell that clings to your gym gear.
The shift to remote working has fuelled the popularity of “athleisure” clothing such as T-shirts, joggers and leggings which, rather than shirts and dresses, are now the default work wardrobe of many Britons.
Continue reading...Embattled water supplier promises to invest up to £3bn more over the next five years
Thames Water could raise bills to as much as £627 a year to pay to fix its leaky network, after promising to invest up to £3bn more over the next five years.
The embattled water supplier said on Monday that it had updated its spending plans for 2025 to 2030 after discussions with the industry regulator, Ofwat.
Continue reading...Supplier mistakenly charged direct debit customers at rate meant for those who pay when they get bills
Scottish Power is to pay £1.5m in refunds and compensation after overcharging nearly 1,700 households at the height of the energy crisis and in previous years, paying out an average of £294 to each customer.
The energy regulator, Ofgem, said it agreed the redress package with the supplier after it confirmed that, between 2015 and 2023, it mistakenly charged 1,699 direct debit customers at a higher rate that should only apply to those who pay when they receive their bill.
Continue reading...Regulator says energy firms planning payments for another 1,000 customers after reviewing 150,000 forced installations
Only 1,500 people have been compensated by energy companies for the forced installation of prepayment meters over the past year, figures show.
The energy regulator, Ofgem, said that initial information from gas and electricity suppliers showed that 1,502 customers had received compensation totalling £342,450.
Continue reading...Despite a 12.3% cut in April’s energy price cap, there is an important fixed element in your bill that is rising again
“Great news! Your unit rates are going down.” E.ON’s letter to customers starts with glad tidings – but, as it soon admits, there is an element of their bills that is set to go up in most parts of the country.
Despite a headline cut of 12.3% in April’s energy price cap, yet again standing charges are rising. In E.ON’s case, on its Next Flex tariff, electricity charges are due to rise from 62.205p to 67.9041p – an increase of just over 9% – while for gas, charges go up from 29.595p to 31.894p (up almost 8%).
Continue reading...Independent advice provider calls for clarity on funding and says project may offer ‘poor value for money’
Ministers have been urged by Citizens Advice to protect consumers from a hike in household energy bills to pay for the proposed Sizewell C power station, amid international tensions over the rising costs of nuclear projects.
The UK’s largest independent advice provider has raised concerns that the project in Suffolk may offer “poor value for money” and called for greater clarity on its funding, in a letter to the Department for Energy Security and Net Zero.
Continue reading...Price Promise tariff gives discount on current cap and guarantees to be at least £1 per fuel under April one
British Gas has launched a fixed-rate gas and electricity deal that offers a 12% saving over most existing price-capped tariffs, adding a new choice to the hard-to-navigate home energy market.
For the past two winters, consumers have largely been spared having to seek out the cheapest deal, because, in almost all cases, it was their supplier’s price cap-protected standard tariff.
Continue reading...Andrew Bailey says cost of living had been higher than expected in December despite ‘encouraging’ inflation news
The Bank of England governor has doused hopes that better-than-expected inflation news last month will accelerate cuts in interest rates, stressing the need for further evidence of wage moderation before Threadneedle Street moves.
Appearing before the House of Lords economics committee on Wednesday, Andrew Bailey said it was “encouraging” that inflation had remained unchanged at 4% in January but the previous month’s figure for the cost of living had been higher than predicted.
Continue reading...Campaign groups call on regulator to abolish January bill increase, saying households are facing an ‘assault from all sides’
Midwinter energy price increases should be abolished to protect households from unaffordable bills “at the worst possible time”, according to a coalition of leading charities.
Charities and campaign groups have called on Ofgem, the energy regulator, to scrap future January bill increases as it prepares to raise the cap on energy prices by 5% from Monday.
Continue reading...This online tool will help you discover what is contributing to your household’s cost of living increases
Inflation has been soaring in the UK, with people being hit by higher prices for everyday essentials, but cost of living pressures are finally starting to ease.
The latest inflation rate for the 12 months to November 2023 means that goods and services cost 3.9% more than they did a year ago – in most cases, surpassing any pay rises workers can expect to receive.
Continue reading...Former British Gas executive tasked with leading turnaround in face of debts and controversy over sewage
Thames Water has appointed a former British Gas executive as its new boss with a pay package of up to £2.3m a year and tasked with leading a crucial turnaround as it faces mounting debts and controversy over dumping sewage in Britain’s waterways.
Chris Weston replaces Sarah Bentley, who resigned with immediate effect in June amid a backlash over the firm’s poor environmental track record. Weston will take up the role on 8 January.
Continue reading...Citizens Advice warns such credit schemes risk delivering ‘knockout blow’ to household finances
More than a quarter of adults in the UK will use buy now, pay later to help with festive spending, research suggests, with the proportion rising to more than half of parents with young children.
The survey for Citizens Advice also found 11% of respondents used such credit schemes to pay for groceries, a proportion that rose to 35% for regular BNPL users.
Continue reading...Global energy watchdog says Russia cutting supplies has prompted efficiency upgrades and move to heat pumps
The Ukraine crisis has marked a turning point for Europe’s gas consumption, which is expected to fall again this year as homes and firms embrace efficiency upgrades and heat pumps, according to the global energy watchdog.
A report from the International Energy Agency found that the continent’s developed economies reduced their gas use by 15% in 2022 after Russia cut off flows after its invasion.
Continue reading...Ofgem increases minimum price for energy suppliers to charge customers after rise in global gas prices
Households will begin the new year with a 5% increase in energy bills after the regulator raised the price cap to an average of £1,928 a year for the typical gas and electricity bill.
Ofgem raised the maximum price that energy suppliers can charge their customers from £1,834 a year for the typical household between October to December, after a rise in global gas market prices after the start of the Israel-Hamas war last month.
Continue reading...Families resorting to ‘desperate measures’ and struggling with ‘frightening’ level of hardship amid cost of living crisis
About 2m UK households have been forced to turn off their fridge or freezer to save money as they continue to struggle with what poverty campaigners called a “frightening” level of hardship.
Nearly half of those households said that since May they had to disconnect their fridge or freezer for the first time, a sign the cost of living crisis was still hurting low-income families, according to the Joseph Rowntree Foundation (JRF) charity.
Continue reading...Government’s Energy Company Obligation has managed to upgrade only 65,000 homes since April 2022, figures show
Labour has attacked the Conservatives over the speed of government efforts to upgrade Britain’s draughty housing stock, as analysis showed a leading household energy efficiency initiative was proceeding at what the party called a “glacial pace”.
Just 65,000 homes have been upgraded under the government’s Energy Company Obligation (Eco) scheme since it was relaunched in April last year, according to analysis of statistics released by the Department for Energy Security and Net Zero (DESNZ).
Continue reading...Rishi Sunak signalled changes in the king’s speech that create a policy divide with Labour
The government has confirmed its plans to grant new North Sea oil and gas licences every year at the opening of parliament, deepening a political fault line between the Conservatives and Labour, and angering environmental campaigners who argue it undermines efforts to reach net zero. Here, we examine the move.
Continue reading...Drop in retail sales also because of consumer worries over high energy bills and mortgages, surveys suggest
Fears that the UK is heading for a recession this winter have intensified amid signs Britain’s hard-pressed households are cutting spending as they save for Christmas and higher fuel bills.
Two monthly snapshots of retail activity found shops and online outlets struggling because of consumer budgets being squeezed by dearer mortgages and the UK’s lingering cost of living crisis.
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