Plus key takeaways and actions from Ofgem’s Consumer Vulnerability Strategy: Progress Report Ofgem’s new report is well-timed (or at least, isn’t too late) to make a tangible impact for customers this winter. Winter vulnerability in the energy sector and increased pressure on household energy bills is, of course, predictable. However, the individual customers who will […]
Five key similarities and five key differences Awareness around the needs of vulnerable customers is at an all-time high. There’s both keen industry and public focus on how water companies support customers experiencing financial hardship, medical dependencies, mental health issues and other vulnerable circumstances. Ofwat Service for all guidance requires a published vulnerability strategy from […]
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Customer support teams across the UK’s utility companies, councils, and financial services are doing more than ever to support vulnerable customers. But every day, agents still speak with people who are falling through the cracks – families who just miss out on eligibility for support, or who are still struggling despite being on discounted tariffs. […]
As household budgets are stretched thin and mental health care continues to experience high demand and long waits, service providers face a growing challenge – how to identify and support characteristics of vulnerability compassionately and effectively before problems escalate, and how to fairly treat customers with arrears, without causing further harm. For the (often separate) […]
Ofgem’s latest figures show energy debt levels have reached a new high of £3.3 billion, up from £3.1 billion in December 2023. With financial pressure continuing to mount on households, protecting vulnerable customers has never been more important within the energy sector. As Ofgem’s focus on this intensifies, it’s essential to explore how to navigate […]
Read More… from Strategic Compliance with Ofgem’s Vulnerability Directives
Consumer energy debt is at an all-time high, reaching £3.1 billion in 2024, the highest rate since records began1. Alongside this, vulnerability in consumers is growing, with 60% of UK adults struggling with bills2 and 45% of the population now classed as vulnerable according to the FCA definition of vulnerability3. Increasing debt and vulnerability means […]
Read More… from The state of vulnerable customer support in the energy sector
New Ofwat vulnerability guidance has set out minimum standards for water companies to ensure that customers who need extra help are given the service they need. Read on to see how companies can put these into practice to support vulnerable customers. Consumer bills will continue to rise in 2024. As well as the Ofwat vulnerability […]
Read More… from How to put Ofwat’s new service for all vulnerability guidance into practice
Help your organisation to support vulnerable customers with these five building blocks to create a successful disclosure environment. By Dominic Maxwell, TellJO founder. If my bank calls me up and says “Mr. Maxwell, tell me about your mental health and how it’s affecting your ability to pay your loan” that’s not a conversation I am […]
Read More… from Five steps to create a winning disclosure environment