Latest news with #energyproviders
Telegraph
17 hours ago
- Business
- Telegraph
Fears of £4bn raid on middle classes as energy debts soar
Household energy debts have topped £4bn for the first time, raising fears of a raid on the middle classes to cover the growing deficit. Total customer debt and arrears climbed to £4.15bn in the first three months of 2025, new figures from regulator Ofgem showed, up from £3.85bn in the final quarter of 2024. Energy debts have quadrupled since 2018 thanks to a toxic mix of rising gas prices and green levies that have sent bills soaring. Poorer households have been hit hardest because energy bills take up a greater proportion of their income. Growing debts are a significant problem for energy suppliers, which fund themselves through household bills. A drop in their income has raised fears that some smaller suppliers could be at risk of collapse. Ofgem launched a consultation on how to tackle the debt crisis last year, which included proposals to write off debts for the poorest households. If debts are written off, money needs to be raised from somewhere else to fill the gap. Options that are being weighed up by the regulator include extra charges on the bills of households not caught up in the crisis, levies on energy suppliers, or a mixture of both. It means millions of people could face higher bills to pay off the debts of others. The outcome of that review has not yet been published. In April, Jonathan Brearley, the chief executive of Ofgem, raised the prospect of charging richer households more for their energy to help pay for the costs of reaching net zero. 'We want to at least ask the question whether or not we can allocate costs more progressively,' he said. Economists typically use the term progressive to mean people pay higher tax rates as their income increases. Adam Berman, director of policy at Energy UK, the trade body for energy suppliers, said: 'A certain amount of debt, the debt which there really isn't any hope of recovery, that effectively gets socialised on everyone's energy bills. 'It's in the interest of society overall that we minimise debt because ultimately the more debt that we get, the more other consumers end up having to pay for that debt.' An Ofgem spokesman said: 'We know the cost of energy remains a huge challenge for many households and the growing issue of debt is one that requires urgent action from everyone across the sector and government.' The energy regulator said it was considering the introduction of a new debt relief scheme 'that could serve as a lifeline for millions of households struggling with unmanageable debts'. Andrew Bowie, the Conservative shadow energy spokesman, said: 'Consumer debt is rising because impossible net zero targets have driven up energy bills and distracted the Government from focusing on cutting them. 'As long as Miliband remains Energy Secretary with his impossible net-zero targets, bills will continue to rise. 'The country needs a serious approach to energy policy – one that tackles the root cause of our high energy prices, rather than raising taxes to pay for sticking-plaster solutions.' Earlier this month, the boss of British Gas called for Rachel Reeves to raise taxes to pay for net zero, rather than putting the cost on energy bills. Chris O'Shea, the boss of British Gas owner Centrica, said: 'At the moment, the costs for doing [net zero] come off consumer bills. There is an option to put that on general taxation and that's something that we would support at Centrica.'
BBC News
19-06-2025
- Business
- BBC News
Energy Debt with Iona Bain
Here are some handy links with more information on managing your energy debt:Here, external is a link to Citizens Advice where you can find a list of grants that are available from different energy providers. Here, external is a link to a USwitch guide on how to read you energy bill, including where to find the amount of energy you've used.
The Independent
18-06-2025
- Business
- The Independent
4,000 customers to get compensation for unpaid Warm Home Discounts
Utilita will pay £277,000 in compensation to 4,000 customers for failing to make mandatory Warm Home Discount payments on time between 2023 and 2024. The delay was attributed to an internal error in processing payments. Utilita has already paid £30,000 and agreed to pay an additional £247,000. The Warm Home Discount scheme, administered by Ofgem, provides an automatic £150 payment annually to low-income individuals, applied by their energy supplier. Ofgem's latest report showed that seven other suppliers also failed to pass on these discounts in 2023 and 2024, leading to combined compensation payments of £484,960. Ofgem said that timely payments are crucial for vulnerable customers and stated that failures to make scheme payments on time are unacceptable.
The Sun
04-06-2025
- Business
- The Sun
Thousands to be left without HOT WATER due to energy meter switch-off
THOUSANDS of households are at risk of being left without heating and hot water in weeks due to a shortage of smart meter appointments. Homes with electricity meters that use the Radio Teleswitch Service (RTS) need to upgrade to a smart meter before June 30 - when the service is being switched off. 1 Some RTS meters automatically turn the heating and hot water system on and off at different times during the day. This means that once the signal is switched off households could find that these systems do not work properly. They could also end up running their heating permanently during peak time, which could cause huge bill hikes. But a shortage of smart meter appointments means that thousands of households will not be able to make the switch before this deadline. None of the major energy suppliers or industry regulator Ofgem were able to tell us how long customers could expect to wait for a smart meter appointment. More than 100,000 RTS meters are still in use, according to Energy Action Scotland. But the meters are only being replaced at a rate of around 1,000 a day, according to industry regulator Ofgem. As a result, some customers are being offered meter replacement dates well after the deadline. An Ofgem spokesperson said: "Suppliers need to do more and ensure customers are protected from detriment, which is why industry is putting in place a phased area-by-area shutdown beginning from 30 June. "We have made clear that the signal serving a specific area should not be switched off until suppliers have demonstrated that they are ready and able to respond quickly to any issues customers experience. From TV to energy... tips to save you money on 7 bills that are going up in April 'While this carefully managed phaseout should reassure customers that they will be protected, it remains crucial that these meters are replaced so I would urge customers to engage with their supplier when offered an appointment – even if it is after the 30 June date.' Forums online are now inundated with energy customers complaining about being unable to secure an appointment. One Ovo customer said he had been trying to upgrade his two RTS meters since October 2024. An engineer visited his home that month and tried to install the meter but there was a signal issue. How do I know if I have an RTS electricity meter? YOU'LL be able to tell if you have a meter that relies on the RTS quite easily. The oldest RTS-powered meters have a switch box labelled "Radio Teleswitch" located next to the physical electricity meter. Others may have the RTS switch box included within the electricity meter as a single box on the wall. If you're unsure about the type of electricity meter in your home - call your supplier as they'll usually have this information on hand. RTS is also sometimes called dynamically teleswitched (DTS). A fortnight ago his appointment was cancelled due to a system issue. He added: 'I tried to re-book an appointment today but all the appointments had gone and there is nothing left before 30th June. 'I was told by the operator that because it is not my fault the meters have not been changed that I would not lose electricity supply - I have little faith in this happening and dread an electric bill after the 30th of June.' Another said their parents are in a similar position. They said: 'My parents are with Utility Warehouse but their electric supply is through Eon Next. Neither of them have contacted them about the RTS switch off.' They added that when they called Utility Warehouse customer services they were unable to speak to anyone. They tried to book an appointment online but every time were told: 'we're not able to provide you with a smart meter right now. Register interest and we'll get in touch when we can.' Another said: 'I am a British Gas 'customer' on a fixed price tariff. Last October BG advised that my electricity meter was one of the soon to be obsolete RTS type. 'I dutifully signed into my account and tried to request a smart meter … no appointments available. "Since then I have regularly tried to request an install … no appointments.' Andrew Bartlett, chief executive of Advice Direct Scotland, said customers are "in the dark" about the RTS switch. He added: "People are being given dates well after the June 30 deadline for the replacement of their RTS meters with a smart meter, even into August. 'Customers are doing the right thing by contacting suppliers to arrange their fitting, only to be given dates more than a month after the deadline. 'We are also aware anecdotally of people being wrongly told that they have nothing to fear as the cut off won't happen until 2028.' How long do I need to wait for an appointment? Ovo Energy Ovo Energy said it has appointments available to install a meter as soon as possible. However, the availability of these appointments may vary depending on where you live. If you are unsure of what to do or are vulnerable then you should contact Ovo as soon as possible so it can ensure you have an appointment booked in. Customers will be able to choose which tariff they switch to and its specialist team will be on hand to help find the most appropriate one. Octopus Energy Octopus Energy said it has contacted every customer it thinks has an RTS meter that may not work effectively after the switch off. It is installing nearly 20,000 meters a week and said it has the capacity to prioritise anyone who thinks they might lose their heating after the switch off. A spokesperson said: 'It's really important that customers with RTS meters get in touch with us - but we also want them not to worry. Our team is working 7 days a week, and we'll do our very best to make sure that no-one is left without power.' said it will prioritise RTS upgrade appointments and has reserved engineers to ensure it has the capacity to deliver these upgrades. It said all RTS customers should not delay. You should book your smart meter upgrade appointment as soon as possible to make sure your heating and hot water continues to run smoothly. How can I improve my chance of getting an appointment? You should regularly check your supplier's website to see if they have released any new slots. Most suppliers will only let you book an appointment in the next six weeks. You can also ask your supplier how often they release new slots and on which day of the week. For example, Octopus Energy releases new slots on a Monday but you will need to get online early to secure a space. Most suppliers will let you register your interest online so they can notify you when new slots become available. You can do this online through your account. A spokesperson for Energy UK said: "We would only suggest that anyone with an RTS meter contacts their supplier as soon as possible. "Booking a meter replacement appointment now will ensure a smooth change that enables your heating and hot water to continue operating in the same way. "If you are worried that you have an appointment booked after 30 June, this has been taken into account as part of the phase out plan.' Can I keep my RTS tariff? In most cases, RTS customers will be offered a smart meter. The smart meter operates in the same way as an RTS meter on a multi-rate tariff such as Economy 7 or Economy 10. If that is not possible then suppliers must take all reasonable steps to provide a similar tariff, so customers do not see their bills increase. Meanwhile, upgrading an RTS meter to a smart one should give customers access to a wide choice of smart meter only tariffs that should save them money. If your supplier has not contacted you already then you do not need to wait for a letter or email asking you to switch. Get in touch with your supplier directly as soon as you can. What energy bill help is available? There's a number of different ways to get help paying your energy bills if you're struggling to get by. If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter. This involves paying off what you owe in instalments over a set period. If your supplier offers you a repayment plan you don't think you can afford, speak to them again to see if you can negotiate a better deal. Several energy firms have schemes available to customers struggling to cover their bills. But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances. For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000. British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund. You don't need to be a British Gas customer to apply for the second fund. EDF, Octopus Energy and Scottish Power all offer grants to struggling customers too. Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR). The service helps support vulnerable households, such as those who are elderly or ill. Some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you're struggling. Get in touch with your energy firm to see if you can apply.
Globe and Mail
03-06-2025
- Business
- Globe and Mail
Brenmiller Energy's Nears Its Transformative TES Market Moment ($BNRG)
HPM has been covering the integration of thermal energy storage (TES) into the global energy mix heavily throughout 2025. The questions we get back aren't asking why —they're asking what. As in, what exactly is TES, and is it another complicated, drawn-out energy market investment proposition? We get it. The term "thermal energy storage" itself often deters readers from continuing. But here's the reality: it's a remarkably simple concept that's being embraced by energy providers in the know—particularly those who know what's coming. The concept's beauty lies in its simplicity—heat up a material, store that heat, and release it when it's needed. That's it. Whether it's crushed rock, sand, or another heat-retaining medium, the idea is straightforward: capture energy when it's abundant, cheap, and renewable, and deploy it when it's valuable. No exotic minerals, no dangerous chemical reactions, no moving parts. Just clever thermal engineering solving a problem batteries weren't built to solve. Of course, delivering that value at a commercial scale is where things get more complex. That's the hard part—and that's the part Brenmiller Energy (NASDAQ: BNRG) has already figured out. Thanks to Brenmiller, TES isn't some future-tech pipedream. It's live. It's real. It's working now. A Distinction Worthy Of Value While other high-valuation private TES startups talk about what they hope to build, Brenmiller is doing it. Right now. And that distinction matters—especially when BNRG is trading at a valuation of roughly $5.6 million, compared to private-sector peers who have valuations in the hundreds of millions despite, for the most part, still being clutched in development mode. To put it directly, investors should consider capitalizing on this massive valuation disconnect before the window closes. And it's starting to. BNRG's trading volume has exploded higher, with recent sessions running more than 10X above average daily volume. It's not hard to see why. Investors are catching on, particularly after a recent capital raise sent shares lower—creating an entry point that's rightfully attracting serious attention. Keep in mind that when you see ADV statistics, they're skewed higher now due to massive volume surges, with shares trading in the tens of millions compared to the tens of thousands just weeks ago. The point is this—the interest in BNRG is well-deserved. With electrification and renewables reshaping the global energy mix, the industry and investors are finally catching up to a reality Brenmiller Energy has been acting on for years: batteries and solar panels alone can't solve industrial heat or grid stability. Especially not at scale and not 24/7/365. That's where TES comes in. TES Can Be Energy's Most-Valued Partner It's cost-effective. It's durable. And unlike lithium-ion systems, it doesn't degrade, overheat, or depend on fragile global supply chains. TES fills the gap that batteries can't reach—replacing fossil-fuel-powered industrial tools, such as boilers, reducing demand charges, providing cost-of-energy certainty, and unlocking the full potential of renewables by absorbing excess generation and dispatching it as heat or steam whenever and wherever it's needed. In other words, it brings order to chaos. Just as important, TES isn't locked into one format. It integrates on the grid—through demand response programs and virtual power plants—and off the grid, where energy independence isn't optional; it's required. The SolWinHy green methanol project in Spain proves the point: entirely disconnected from the national grid, it operates on solar and wind energy. That's a great start. But where things matter most—energy delivery and system stability—SolWinHy will rely on Brenmiller's TES to make it all function. That distinction matters. And it should be valued. The European Hydrogen Bank allocated €7 million of SolWinHy's €25 million grant directly to Brenmiller. That's a sovereign endorsement of BNRG's bGen™ system and its irreplaceable role in the clean energy value chain. The better news for BNRG is that SolWinHy is likely just the first domino to drop in a model expected to be repeated across Europe and beyond. In other words, there is plenty more to appreciate and factor in when appraising BNRG. Supporting The Value Proposition Start with the fundamentals. In a space where being first matters, Brenmiller Energy isn't just early—they're proven. While names like Rondo Energy have achieved $500 million valuations based on future potential, Brenmiller has more than $40 million worth of infrastructure already deployed. Yet its market cap still trades at just $5.6 million on June 2nd. That kind of disparity doesn't last forever, especially with the soon-to-be-funded SolWinHy project in its pocket. It also helps that BNRG remains the only pure-play TES stock available to U.S. investors. There is no ETF or broader basket. If you want exposure to industrial-scale thermal storage, this is it. Need more to justify the value proposition? Check this slew of partnerships. Brenmiller has formed strategic alliances with Entelios in Germany to integrate TES into advanced grid systems, with Viridi Energy and Green Enesys in Spain, and with Rock Energy in the USA to deliver carbon-neutral heating across institutional buildings and campuses. These aren't speculative collaborations. They're revenue-aligned, deployment-driven relationships with a clear commercial roadmap. A Milestone Is Weeks Away But timing may be the most critical part of this story. The company's next major commercial deployment, at the Tempo Beverage plant in Israel, is slated for July 2025. That's not years away; it's weeks away. With that added validation, more than €200 million of European pipeline activity is lining up behind it. And with SolWinHy, potentially another sovereign-funded order at any time. The kicker—beyond the pipeline, Brenmiller Energy is exploring IP monetization to generate near- and long-term shareholder value without dilution. To put it simply, the pieces are in place for BNRG to realize its transformative TES moment. Not years from now, but weeks from now. With real deployments, partnerships, sovereign validation, and a validated TES platform, it's hard to say this in any other way—seize this investment opportunity while the discount window is open. If the adage "volume precedes price" is valid, it's already starting to close. Disclaimers and Disclosures: Hawk Point Media Group, LLC. (HPM) has not been compensated to produce and distribute this content. It should be expressly understood that HPM is not operated by a licensed broker, a dealer, or a registered investment adviser. It should also be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. HPM reports/releases are commercial advertisements and are for general information purposes ONLY. The information made available by HPM is not intended to be, nor does it constitute, investment advice or recommendations. The contributors do NOT buy and sell securities covered before or after any particular article, report and/or publication. HPM holds ZERO shares in Brenmiller Energy Ltd. Always do your own due diligence prior to investing in any publicly traded company. While HPM has not been compensated for creating and syndicating this content, HPM discloses having a prior services agreement with the company, and third parties, that expired in April 2025 and 2024, respectively. 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