To safeguard vulnerable customers, the energy regulator has mandated that energy retailers wear body cameras during prepayment meter visits, as part of new measures.
Despite facing criticism, the CEO of British Gas has been awarded a bonus of £3.7 million.
Centrica, the owner of British Gas, has announced that its CEO, Chris O’Shea, will receive bonuses totalling £3.7 million after the company achieved record profits in 2022.
MPs are set to question the executives of British Gas and Ofgem regarding the pre-payment scandal.
Next week, the executives of Centrica and Ofgem will be summoned to appear before MPs. This comes after British Gas was discovered to have been compelling vulnerable customers to use
British Gas owner Centrica made record profits last year as energy bills soar
In 2022, Centrica’s adjusted earnings per share rose significantly, increasing eight times to 34.9p from 4.1p in the previous year.
More gas and electricity suppliers could go bust because households are unable to pay their bills
The industry body warned that more electricity and gas suppliers may go bankrupt because of the rising number of households who are unable to pay their bills.
Share Talk Expected Market Updates For The Week Ahead, 13th – 17th February 2023
The start of UK banking results season will begin with Barclays and NatWest, as well as Standard Chartered. This continues the focus on jumbo shareholder return, which is likely to
UK energy suppliers will end prepayment meter installation at vulnerable homes
After damaging reports about how prepayment meters were installed in the homes of vulnerable customers, all UK energy suppliers have pledged that they will stop installing them.
Energy regulator Ofgem orders halt to pre-pay meters being forcibly installed
After an investigation revealed that agents working for British Gas broke into the homes of vulnerable customers to install prepayment meters, the British energy regulator Ofgem ordered all suppliers to
£9bn in customers’ cash hoarded by energy companies
The cash pile exploded over the past year and reached its peak at November’s end when households were facing extreme financial pressure due to the cost of living crisis.
British Gas stops using warrants to force people into prepayment meters
The move is following allegations that third-party agents ignored the vulnerabilities of customers and broke into equipment to install it.
Operator Centrica says Rough gas storage faces deadlock over funding deal
Due to a dispute with ministers over funding, the owner of Britain’s largest storage site for gas has indicated that it will not be operational at its full capacity next