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Energy debt hits record £3.8bn, as Ofgem propose initiatives to raise standards
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Optimising your DCA strategy to mitigate rising debt
Domestic debt keeps rising, and engaging customers through tailored journeys is crucial to take control of the situation. Refining your approach to DCAs can drive these improvements, supporting your internal efforts to better manage customer debt. We've outlined three steps here to help maximise results from your DCA relationships.
Average solar payback takes 14 years - optimising efficiency is key
Recovering install costs for domestic solar panels currently takes ~14 years, and customers can optimise efficiency to access the full potential of these systems, as covered here.
Domestic energy suppliers faced £1.9bn cash coverage deficit
By combining Ofgem's new data on customer credit with their recent market debt figures, our analysis shows domestic suppliers faced a £1.9bn shortfall to the target cash reserve in March 2024 - an increase of £1.1bn in the past 12 months.
Engaging customers is critical as energy retail diversifies
Energy retail's diversification continues to gather pace, with margins strained, and uncertainty looming around Ofgem's price cap review. Service-oriented models offer a route to sustained growth and profitability, but it's not without risk, as question marks remain over customer uptake. We've assessed the opportunity here.
Heat Pump support increasing, with budget for 3.3k installs pm
Support for Heat Pumps is set to increase next year, with budget for up to 3.3k installations per month - doubling the current funded install rate.
Addressing the carbon reduction challenge in data utilisation
The technology and software sectors are a key driver of economic growth, attracting private equity and venture capital investment thanks to their scalability and high margins. Global tech spend is booming, forecasted to reach £3.6 trillion in 2024, so what’s the catch?
Improving settlement performance is a ~£200m opportunity for suppliers
Since the migration of first-generation (SMETS1) smart meters into the DCC network, there’s been a steep decline in settlements accuracy across the energy industry, which could be costing suppliers up to £200m based on our analysis.
Domestic energy debt has reached £3.3bn, up £1.1bn in a year
Ofgem have shared their Q1-24 view of domestic energy debt, reporting a total debt value of £3.3bn in the industry (54% increase since Q1-23).
Identifying opportunities for smart rollout acceleration
The government's smart rollout target for 2025 is getting closer, and although our analysis shows most suppliers are set to fall short of 75% coverage, opportunities to hit the target still exist - as shown in this article.
Embracing energy policy uncertainty in the general election
Last week, we saw the major political parties launch their election manifestos, with energy being a significant topic. More market change is expected, alongside Ofgem's upcoming Price Cap review decision, but there's a good case for optimism.
Carbon Emissions: Driving a meaningful reduction in your business
For carbon reduction to feel achievable, business leaders need clear direction on where to act (and how) to drive the most impactful efficiencies. With this clarity comes greater opportunities for cost savings, value creation, and investor attraction.
Preparing third party relationships for more winter debt
Record debt levels mean high volumes of customers are likely to be sat in external collections processes. Suppliers must focus on strengthening third party performance in the build-up to winter, across the five areas covered in our framework.
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