Blog
Customer indebtedness is set to worsen this winter
Customer indebtedness is growing at an unsustainable rate. And it’s projected to get worse as we head into winter. Analysis from our Market Insights supports this, highlighting three key points, which we’ve explored further in this blog.
An update on B2B Credit Risk
Business deaths have begun to decline from a peak position in late 2021 and early 2022 – the latent effect of the pandemic on business viability has potentially now passed. However, businesses continue to operate in challenging circumstances with economic pressures weighing heavily.
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.
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 Due to government support being withdrawn, customers are likely to receive higher bills in winter 23 than in the same period last year.
Dropping Prices - Rising Bills. Energy Price Cap Analysis.
Based on the latest update from Ofgem , the BFY Group team have modelled that prices will remain around £2,000 per year. The forecast £450 reduction in the headline rates won't be felt as a £450 saving customers pockets, this is because OFGEM have to articulate an annual value based on prices for a quarterly window.
Energy Bills Projected To Rise Despite EPG Extension
It's great news that Jeremy Hunt has extended EPG for a further 3 months at £2,500 - however the amounts customers pay is still projected to increase.
Collections aren't working: What now?
Now more than ever, suppliers must adopt a fair and effective approach to customer debt. We've created a free guide to help with this, containing insight on improving your predelinquency strategy, and developing your collections process.
Cost of living crisis - Are you managing debt effectively?
External cost of living pressures are continuing to have a significant impact upon customers and their ability to pay, leaving suppliers with mounting debt books that are increasingly difficult to manage.
We are facing an energy affordability crisis
The rising price of wholesale gas is impacting consumers across the UK, and new research from BFY suggests that things are only going to get worse. With the price cap for the Q4-22 set to outturn at £3,600 and the Q1-23 at over £4,700, the average bill for January alone is likely to reach £600 – a price that too many consumers will simply not be able to afford.
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