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April Price Cap rises to £1,849 – tariff changes planned, and billing pressure grows
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Service demand to rise with water bills – What next for suppliers?
Water bills are set to rise by £10 a month from April, according to this week’s forecast from Water UK - adding further pressure to household budgets. At the same time, service demand is expected to grow, making it crucial for water suppliers to prepare. As we explore below, the success of any servicing operation hinges on people and processes, but their role becomes even more vital when supporting vulnerable customers.
Suppliers face prepay balancing act as additional support credits hit £150m
Understanding who in the prepayment portfolio needs support - and how much - remains critical for energy suppliers. While ~£9 of the current price cap includes a temporary allowance for bad debt, this relies on suppliers operating at a ‘notionally efficient’ level. Rachel Littlewood and the team outline five steps to help you enhance your approach, and strike the right balance between support, operating costs, and bad debt.
Domestic suppliers will need to make up £250m cash shortfall
Domestic energy suppliers faced a £250m cash coverage deficit at end of Q3. For the third consecutive quarter, suppliers had to finance a shortfall in net balances, even as customer credit balances reached their seasonal peak. It marks a shift from previous years, when suppliers had a positive net cash position during this period.
MHHS could trigger ~£200m spike in physical meter read costs for suppliers
With just over half of meters operating in smart mode and many suppliers behind on installation targets, physical meter read costs are set to spike when MHHS goes live. The reform will empower customers to reduce bills, by aligning consumption with cheaper, greener energy - but significant progress is needed to ensure these benefits are widely accessible.
Adapting universal service agents for an evolving energy sector
The universal agent model offers huge potential - but with decarbonisation, digitalisation, and decentralisation reshaping the energy sector, making it work is more complex than ever. By upskilling agents, integrating AI, and streamlining processes, companies can future-proof their approach and gain a competitive edge.
Video: Transforming leadership capability with E.ON Next
In this video, Ramona Vlasiu (COO), Chris Shead (Director of Customer Operations), and Stefan Guy (Director of Debt) highlight how E.ON Next's partnership with BFY Group is helping to drive a high performing culture in customer operations.
A day in the life of a Consultant – On-site with a client
What does being a Consultant at BFY actually involve? While we’ve been sharing details about the exciting roles we’re hiring for, you might still be curious about what life as a Consultant looks like on a day-to-day basis. To give you a better idea, Kayleigh Gray offers a firsthand glimpse into a typical day spent on-site with one of our clients below.
Assessing leadership capability to drive excellence in customer operations
Energy and Utilities is undergoing significant change. With system migrations, large-scale restructures, and rapid growth, suppliers face a complex landscape that requires strong leadership to navigate – but how do you measure this strength?
Energy debt hits record £3.8bn, as Ofgem propose initiatives to raise standards
Energy debt has reached a new high of £3.8bn as of Q3-24, up £134m from the previous quarter, and £0.9bn over the past year. Alarmingly, £2.9bn (75%) of this debt remains without any repayment arrangement in place, with 2m customers in this bracket. Total debt has almost tripled since 2020, and the volume of customers without repayment arrangements is up 700k (55%) in the same period.
Suppliers can still hit smart targets, but installation is only half the battle
Q3-24 saw 700k smart meter installs, a ~3% rise, but this pace won’t meet the 74.5% target by Dec-25. Another 5m installs are needed, alongside addressing the 3.7m meters still operating in traditional mode. These persistent issues risk higher service costs and frustrated customers, while competitors are already capitalising on real-time data for personalised tariffs and stronger engagement. Here, we share practical steps to help address this dual challenge.
Keeping revenue leakage below 1% to stay competitive, and save ~£100m
Keeping revenue leakage below 1% is no longer just a benchmark for top performers, it’s essential for staying competitive. In this article, we explore what sets high performers apart, showing how the right mix of insight, controls and operational execution can mitigate high-value losses, and deliver significant performance gains. At BFY, we’ve worked with leading suppliers on solving their revenue leakage problems, leading to savings of over £100m per year in some cases.
Price Cap at £1,738 – stable bills, but customer support remains critical
Ofgem have today (22 Nov) announced a £21 (1%) increase in the energy Price Cap, rising to £1,738 from January 2025. This increase won’t significantly impact bills, but affordability challenges continue, as Ofgem and the government consider options to address the underlying issues.
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