Most customers worse off due to Jan 2024 Energy Price CapRead More
Are you facing a cash gap in Smart prepayment?
On the whole, Smart metering has been welcomed by suppliers. However, as we’ll cover in this blog, there are growing problems in the Smart PAYGO space, where challenges with technology, process, and customer behaviour are leaving suppliers financially exposed.
Re-platforming – Is it time to migrate to a new system?
For suppliers who haven’t yet migrated to a new customer management system, now might be the time to make a move. The demand from customers for advanced digital services is here to stay, while the ability to manage complex data is a necessity for meeting ever increasing regulatory and growth needs.
Working at BFY – Ed’s Development Journey
In our ‘Working at BFY’ blog series, we’ve asked our people to share their stories since joining the team, showcasing their achievements so far and what they’re aiming for next. Ed joined BFY in 2020 from a Finance role in the Energy industry, and has been on a progressive journey since then.
Market debt levels continue to rise with prices
Market debt levels have continued to rise as the the price cap rises - however we've also seen customers absorb a greater proportion of the price increases than expected. This isn't all good news - we're potentially starting to see a latent effect where customers are running out of options by which to cover the increased costs which will give rise to increased debt levels in Q4-23 / Q1-24.
Getting ‘winter ready’ – Weatherproof your pre-delinquency strategy
As we conclude what’s been a turbulent British summer, the uncertainty of autumn and winter is fast approaching, with our projections showing this will be another challenging period for customers. Due to government support being withdrawn, customers are likely to receive higher bills in winter 23 than in the same period last year.
Winter bills to rise as the Price Cap falls – Here’s why
Ofgem have announced the Price Cap for Oct-Dec 23 at £1,923 in line with BFY Group projections. Although this represents a decrease for the second consecutive quarter, we’re expecting to see customer bills moving in the opposite direction this winter, due to the removal of government support.
BFY Group and Women’s Utilities Network – Partnering for industry change
We were eager to partner with WUN, as their mission aligns closely with our own. Working together will enable us to continue supporting our female employees, and others in the industry, by connecting them with the WUN community.
What is happening to customers bills each quarter?
With lots of talk of the Price Cap falling, what is happening to customers bills each quarter?
A week in the life of a Consultant – On-site with a client
So what does being a Consultant actually involve? We often highlight the amazing opportunities available at BFY, along with the exceptional results that we deliver for our clients, but you might be wondering what this looks like day-to-day. There’s nobody better to showcase this than our people.
Is your operation ready for increased customer switching?
Change of supply - it's been a while. As wholesale Energy prices continue to fall, suppliers should be making sure they're operationally prepared for a material increase in switching, which we're expecting to see from the announcement of the October Price Cap onwards.
Changes ahead for consumer standards – Reacting to Ofgem and FCA guidance
It's time for a shake-up in consumer standards. That's the key message from Ofgem after launching its Consumer Standards Statutory Consultation. New rules are being introduced which will have immediate implications for suppliers, as we approach another challenging winter for customers.
BFY Group supports LDC and UniHomes on their partnership to drive continued growth
We're really pleased to have supported LDC and UniHomes on their new partnership, providing advice on the energy implications of UniHomes' continued expansion. Our team delivered insight covering customer journeys, commercial arrangements, energy price scenarios, and regulatory risk management.
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