Blog
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.
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 Due to government support being withdrawn, customers are likely to receive higher bills in winter 23 than in the same period last year.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.
Looking Upstream - The benefits of focussing on your people
Are you focussing on your people? The value of this is sometimes overlooked, and could be impacting your costs. When service metrics begin to dip, like AHT or NPS, it's easy to get caught up in symptom-driven fixes. Rather than questioning process adherence or capacity management, look upstream, and think more about people.
Customer Experience – The role of people and performance
Perception is shaped by people. If your operational teams aren't optimised to perform together, customer experience, and attitudes towards your brand will suffer. With competition returning to the Energy market recently, suppliers should be striving to promote people excellence, delivering a service that customers want to stick around for.
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.
Improving debt maturity in a challenging Water industry
In Water, B2B suppliers are facing a battle to be 'front of wallet', as the economic crisis continues to increase pressure on collections processes. To maintain stability, improvements to internal debt capabilities are essential.
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