Overall satisfaction with energy suppliers has fallen for the second year running after customers were battered by price rises and nine small firms collapsed, according to a survey.
New energy suppliers will have to show they have adequate financial resources and can meet customer service obligations under proposals by the regulator.
Millions of customers are planning to leave Big Six energy suppliers within a year for cheaper deals, greener energy or better customer service, a study reveals.
UK households have forked out an extra £7.3 billion over the last five years by remaining customers of the Big Six energy firms, a new report shows.
Britain’s “Big Six” energy suppliers need a “kick up the backside” from the Government to ensure customers get the best deals, according to a former minister.
Growing numbers of dual fuel customers are now with an independent provider rather than one of the Big Six, according to an energy markets consultancy.
The gap between average Big Six energy tariffs and the cheapest deals on the market has increased significantly since the competition watchdog began its investigation into the sector, figures show.
Centrica boss Iain Conn has called time on the Big Six energy era.
Ministers are continuing to watch energy companies “like a hawk” to ensure they pass on lower oil and gas prices to bill payers, Energy Secretary Amber Rudd has said.
Customer complaints to energy firms fell by almost a quarter last year to five million, but consumer groups said this figure is still too high.
Energy giants have not passed on dramatic falls in wholesale prices meaning customers are overpaying by the tune of £120 a year, a price comparison site has claimed.
Disgruntled customers are ditching the energy giants in their droves as smaller independent suppliers continue to erode their market share, research suggests.
The boss of Big Six energy firm Npower has left his post after German owner RWE took action following “unexpectedly negative” half-year results.
The U.K.’s biggest energy suppliers probably will escape a recommendation to break up companies when the nation’s anti-trust regulator completes a review of how best to reduce costs and spur competition. The provisional findings of the Competition and Markets Authority are “highly unlikely” to delve into the structure of the country’s energy industry or the wholesale markets, said Ann Robinson, director of consumer policy at uSwitch, a U.K. price comparison site. Instead, the regulator will focus on how to get consumers more engaged in managing their bills, she said. The comments, echoed by industry officials who wished not to speak publicly before the decision is announced on July 7, suggest the utility industry’s basic structure probably will be retained by Prime Minister David Cameron’s government. The opposition Labour Party, which lost the last general election in May, had promised to split the industry into separate retail and power-generation businesses.