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nPower completes tough week for UK energy companies

UK power giant nPower was this week been effectively forced to agree a £63 million refund to customers who were overcharged due to a technical error back in 2007. It is believed that the company failed to inform customers in the correct manner with regards to price increases which has led to the record compensation bill which equates to around £35 per person affected by the issue.

This is just the latest in a number of problems for the UK energy sector which is also reeling from the news that the regulator is pushing to introduce a new notice system for the increase of prices. Currently the system weighs heavily on the side of UK energy providers and leaves consumers with little time to arrange a transfer to a potentially cheaper energy provider. However, the new system will ensure that energy providers in the UK are forced to give advance notice of forthcoming price increases - at least 30 days prior to any rise.

The idea behind the Ofgem proposal is that UK consumers and UK businesses will be given enough notice to look elsewhere and see whether they are able to find a cheaper alternative.

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