Ofgem, the utility regulator, is today looking into growing complaints against doorstep utility salespeople amid concerns that some customers may not fully understand the consequences of a move from one supplier to another. A number of people have stepped forward to confirm that allegedly the deal they were "sold" by various salespeople was not the one which materialised when the bills started to flow.
Ofgem, the utility regulator, has today announced an investigation into the sales tactics of doorstep agents representing the likes of Scottish Power, Scottish and Southern Energy, EDF Energy and npower. This investigation has been announced after an increase in complaints against doorstep agents representing an array of utility companies in the UK. Amid allegations that some customers have been "misled" with regards to the transferring of their utility services, Ofgem has decided to step into the breach.
The environmental group, Campaign for Better Transport, has ridiculed the UK's first major toll road which was introduced to try and alleviate the massive congestion problems in and around Birmingham. The 27 mile stretch of the M6 sees motorist charged £5 a day and HGV's attractive a fee of £10 a day for the same length of road between 6 AM and 11 PM on weekdays. So how have traffic figures been since the toll road was opened in 2003?
In a worrying development for UK consumers, and UK businesses, EDF has today announced an increase in electricity bills which will hit more than 1 million customers. The price increase will come into play in October and see bills increase by 2.6% to an average of £409 a year again £399 a year at the moment. This is the first major increase in utility bills for two years and many experts believe it could be the beginning of a new phase in the UK utility market.
The Student Loan Company has today announced a restructuring of student loans taken out before 1998 and those taken out in 1998 and beyond. Those who took out loans before 1998 will now pay 4.4% per annum on their outstanding debt and those taking out loans in 1998 and after will pay 1.5% on their original student loan.
A report into the Scottish offshore wind industry has suggested that upwards of 28,000 jobs could be created over the next decade with income of over £7 billion generated. There is no doubt that Scotland is the one area of the UK, both onshore and offshore, which offers the most potential for both wind farms and other renewable energies and is something which the government in Scotland is looking to take advantage of.
A report today suggests that while the recession continues to hit consumers in the pocket there are certain areas of consumer spending which remain ring fenced despite the recession. It would appear that underwear, alcohol, pets and beauty treatments are still very high on the list of must have items for UK consumers.
The revelation that "shopaholics" in the UK have amassed unsecured debts of £24 billion during the latest economic downturn, are as amazing as they are shocking. It seems that more consumers than ever before are literally spending beyond their means in the hope that a future economic revival will "bail them out".
A report out today suggests that the UK government is not doing enough to protect those on low incomes in the UK. However, as the burden of a near £1 trillion government debt continues to hang around the neck of the UK population is there anything more the UK government can do to protect those on low incomes?
Pawnbrokers in the UK are this year reporting a massive increase in profitability with the UK's largest pawnbroker, H&T Group, reporting six monthly profits of £14.5 million. While much of the increased profitability in the sector can be put down to the rising price of gold and the margin which pawnbrokers have been able to secure for themselves when "recycling" this gold, there has also been an increase in more traditional pawnbroking items.