In an open letter, OFGEM has set out it’s updated approach to regulating domestic and non-domestic supplier performance from 1st July 2020.
During the COVID-19 pandemic, energy firms, like others in financial services, have allowed customers flexibility to negotiate help and have also paused the collection of unpaid bills.
The regulator has said that it is not in anyone’s interest to have an open-ended hold to collections activity. Ofgem’s chief executive Jonathan Brearley wrote "We recognise that suppliers cannot extend unlimited credit to customers - nor is this in customers' interests overall - and we anticipate suppliers will begin to restart debt management activities that may have been paused during the immediate crisis".
The green light for collections activities does not come without a warning to suppliers who have been told they must take into account customers' ability to pay. Jonathan Brearley added "We will not tolerate sharp practice or aggressive debt collection and suppliers could face enforcement action where this is the case".
IE Hub helps Utility Companies and their customers make sensible arrangements to catch up on arrears. Our online portal allows customers to share their income and expenditure details securely with suppliers who can use the information to agree an affordable repayment plan. This allows suppliers to comply with the regulator but without impacting on call duration. IE Hub can be rolled out quickly and without impacting on IT resource so suppliers can be ready to meet the changing demands resulting from the COVID-19 pandemic. We will continue to offer free trial access to IE Hub for organisations looking to join our share list during this time.
IE Hub is always free for your customer to use and you can sign post them to our service today www.IEHub.co.uk. Customers can print and post or e-mail their budget to firms who are not currently part of the IE Hub share list.