Posts Tagged ‘Utility Bills’


Ofgem accuses energy suppliers of ‘unjustified price differences’


Monday, August 10th, 2009

Could you be saving money on your utility bills in the next couple of weeks? Well, more than 2 million rural households will see their electricity prices fall after Ofgem has cracked down on ‘unjustified price differences’ in the UK energy market, reports Times Online.

Following findings from the regulator’s reports, it has been decided that some people are being charged too much and are generally receiving bad service from the main power suppliers. In particular, 2 million people have not been able to connect to Britain’s gas network, leading to their not being able to qualify for the dual fuel bills offer which could get them cheaper electricity.

Furthermore, energy suppliers have been found to be treating some classes of customers worse than others; suppliers will have to provide annual statements telling households how much energy has been used and that it is viable that they can change suppliers. Proposals have been made to make tariffs simpler for customers, making comparison with other providers easy.

The poorer members of society have often received the toughest deals and a ban on ‘unjustified pricing’ will help them from being discriminated against. Ed Milliband the energy and climate secretary has said that ‘we need regulation to protect consumers and that is why I welcome the Ofgem proposals’.

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Make sure you cash in on the latest Government fuel poverty scheme


Tuesday, August 4th, 2009

In a previous article we worried about the increase in the number of people in fuel poverty, but today it is apparent that government decision-makers have been reading our daily blog as they have announced a new £350 million scheme to aid those in fuel poverty, reports Times online.

The scheme is designed to give low-income households a complete ‘energy efficiency makeover’. The scheme, called the Community Energy Saving Programme (CESP), will start next month and targets 100 ‘fuel-poor’ regions and installs energy efficient measures to the residents there, street by street. Some 90,000 people could benefit from measures ranging from extra insulation to a completely new central heating system, which will save an average £330 a year on fuel bills.

Overall, 900 deprived areas can qualify for assistance, but it is down to community action groups to lobby their local authorities to ensure that the scheme can be adopted in the other 800 deprived areas that have not been chosen directly by the energy suppliers. To find out whether your area is eligible or not go to www.imd.communities.gov.uk and click on the map.

It is important that local communities get on board as the scheme requires at least 25% of the eligible households in the area to have signed up before any work is carried out. There are also worries that the suppliers won’t deliver the scheme properly but will instead aim to meet the government’s carbon reducing targets rather than budget targets when delivering CESP.

If despite the reduction in your fuel bills they are still just too expensive, then it might be time you spoke to us here at www.247Moneybox.com and get yourself a payday loan to cover expenses until your next pay cheque arrives. Our payday loan will allow you to get cash fast, and the application process is quick and easy, so sign up today!

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Ofwat puts its foot down to alleviate hard-pressed consumers


Monday, July 27th, 2009

Great news for consumers’ water bills - we can expect our water bills to fall significantly over the next couple of years, nullifying many water companies’ plans to increase prices by - in some cases - as much as 17%, reports Times online.

Ofwat has decided that the monopolistic position of many water companies has allowed them to get away with price rises, whereas in other markets consumers can shop around for better value, and has thus mandated that prices will fall over the next couple of years.

Water companies will have to juggle lower revenue with an expectation for the same amount of investment, which has lead to criticism that neither can be achieved simultaneously. The chief executive of Water UK, Pamela Taylor, has voiced concerns that the propositions will undermine investment, alluding to Ofwat’s myopia and stating that they had ‘lost their longer term imperative’.

The announcements to curb revenue obviously led to a steep fall in the share prices of the bigger water companies, in particular Severn Trent and United Utilities.

Water companies will be expected to further invest in network improvements, reducing leaks, improving flood defences and replacing antiquated Victorian sewerage networks. Regina Finn, Ofwat’s chief executive, assures that there will be £21bn still available to fund the investment despite price and revenue cuts.

The announcements came as part of the draft recommendation for the period 2010 to 2015, in which Ofwat decides on how much should be invested and how much they are allowed to earn for their shareholders.

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Fuel poverty pressure group condemns lack of action


Thursday, July 23rd, 2009

Despite it being ages before you’ll ever need to switch on your central heating, its worrying to find that many people are going to struggle to keep their gas and electricity on this year. Some 4 million people are finding that rising costs of energy from high oil prices and expensive green measures has put them into ‘fuel poverty’, a situation where one tenth or more of income goes on gas and electricity bills - a huge increase from 1.2 million in 2004, reports Times Online.

Even more worrying is that close to 50% of these households are pensioners. Rising unemployment and the current unhealthy state of the UK economy has meant that more and more people are falling into this category.

A damning report from the Fuel Poverty Advisory Group (FPAG) has condemned the lack of response from the Government to try and tackle this issue. The FPAG want a number of radical measures to be taken in order to stay on track to achieve the (now unlikely) target to eradicate all fuel poverty by 2016.

One measure has been to introduce a separate rate for those vulnerable households to ensure they get the cheapest deal and to fatten the budget of Warm Front, which delivers energy efficient measures to people’s homes.

The target for eradication is looking counter-productive to the Government’s carbon budget, which will pass the costs of green initiatives such as building wind farms straight onto the consumers; the FPAG predicts that this could put another 1.7 million households into fuel poverty by 2022. The investment in new power stations that has been announced recently will probably also make its way to consumer bills.

The energy minister David Kidney has acknowledged that the rising costs and transition to a low-carbon energy supply has ‘reversed the downward trend on the number of households in fuel poverty’, but highlights that the Government has spent more than £20 billion since 2000 on policies and programmes to help tackle fuel poverty. He states that the Government will be continuing to ease the burden on low income households and provide the support required to be able to heat and power their homes at an affordable cost.

Are you struggling to pay off your utility bills? Worried that your gas and electricity may be cut off before you get your next paycheque? Then perhaps you should think about what a payday loan could do for you. Here at www.247Moneybox.com we can offer you a tailored cash loan solution to help keep your finances on an even keel. So don’t worry about paying your energy bills - visit our website and apply today for a fast cash loan.

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