A person wearing a protective face mask walks over Waterloo Bridge during morning rush hour in London, Britain, in this January 21 2022 file photo. Picture: REUTERS/HENRY NICHOLLS
Money owed by EON’s customers is expected to increase by 50% to £2.4bn by the end of the year, Michael Lewis, who runs the German company’s UK business, told a parliamentary committee last month. Centrica, Britain’s biggest supplier, meanwhile says 10% of its 7.2-million customers are already behind with payments.
While some politicians are calling for a tax on companies to subsidise consumers, the industry says it no longer has the financial cushion it once had. Profit margins for selling power and natural gas to households have been negative on average since 2019 as competition between suppliers and the price cap kept a lid on how much they could charge, according to a report by Oxera Consulting.
The price cap protects households not on a fixed-term tariff from being put on the most expensive deal. The regulator, Ofgem, plans to change how often it adjusts the level to four times a year. The adjustment should mean that suppliers can pass on costs more quickly to customers and avoid postponing price hikes.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ukraine war puts Britain’s energy market in perilSoaring prices have put British consumers in debt with energy companies as the Bank of England warns of recession and double-digit inflation I am super excited right now, I can now pay my bills and take good care of my family.. Thank you for bringing happiness to my home with just $5000 i got $50,000 in 7days Williamchurch07
Source: BDliveSA - 🏆 12. / 63 Read more »
ANDREW BRADLEY: Russian war in Ukraine has changed rules of investmentGlobal growth will start slowing down quickly as Nato members crank up defence spending
Source: BDliveSA - 🏆 12. / 63 Read more »
ANDREW BRADLEY: Russian war in Ukraine has changed rules of investmentGlobal growth will start slowing down quickly as Nato members crank up defence spending Couple of months ago I came across a recommendation about Arnoldnike93 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation I am super excited right now, I can now pay my bills and take good care of my family.. Thank you for bringing happiness to my home with just $5000 i got $50,000 in 7days Williamchurch07 And the US and apartheid Israeli wars has done what for business? They must pay oil and gas in Rubble. Other countries must follow Indian and China. The world is waking up every day
Source: BDliveSA - 🏆 12. / 63 Read more »