Blog
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 Due to government support being withdrawn, customers are likely to receive higher bills in winter 23 than in the same period last year.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?
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.
Using accountability and incentives to manage agents effectively
You may feel like you’ve empowered your agents to be accountable for great customer outcomes, but you still don’t feel like you’re getting the results you need.
Leveraging data driven insight to empower agent performance
You may be feeling like you can't see the wood for the trees on agent performance and customer outcomes. You may not be clear on who is performing, and who isn’t – and crucially, why this is the case.
Embracing customer centricity for optimal agent performance
If you feel like problems aren’t being addressed upstream and early in the customer journey, then you may have a problem with a lack of customer centricity.
Achieving quality agent outcomes through quality training
Developing agent expertise is crucial at this stage in the cost of living crisis. Balancing collections with customer support requires a specific skillset, which can be built up through the delivery of quality training. In the first instalment of our Driving Agent Outcomes series, we outline what this training should involve, how it should be deployed, and why it's so important in today's climate.
Driving Agent Outcomes – Insight Series
In our Driving Agent Outcomes series, we're focussing on the actions that can be taken to deliver better outcomes for customers, through higher quality interactions with contact centre agents.
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