There are calls for Ofgem to look at how to better protect energy consumers from their supplier going out of business. It comes as 160,000 energy customers face uncertainty, after GB Energy Supply was forced to shut down. USwitch is calling on the regulator to look at how suppliers can cope with fluctuating wholesale energy prices more effectively. James Brydges spoke to Claire Osborne, an energy expert from USwitch, about the increase in wholesale prices.
Welcome to the This is Money and Share Radio podcast, presented in partnership with NS&I. This week of course the top financial story was Philip Hammond’s first, and indeed last, Autumn Statement. Just what state are the country’s post-Brexit finances in, and crucially what would the Chancellor offer to help his much referenced ‘Jams’? In the end those ‘just about managing’ certainly received a few headline policies but with predictions pointing towards low growth, high borrowing and high inflation many argue Jam spending has been spread too thin. There were also some losers with those enjoying salary sacrifice perks and letting agents coming into the crosshairs, as well as in fact the Autumn Statement itself which will now be scrapped. So what will all this mean for the pound in your pocket? Georgie Frost joins editor Simon Lambert and reporter Becky Rutt to answer just that. Also on the agenda this week they discuss Black Friday and for a slightly different purchase the opportunity to buy a road legal Formula 1 car. This is Money is presented by Georgie Frost in partnership with NS&I.
Energy suppliers are allegedly making larger profits than they admit. The Sun Newspaper claimed they could be making a 24% profit margin, almost six times higher than figures provided by regulator Ofgem. The newspaper based its claims on a PwC report commissioned by Energy UK. Energy UK rejects the claims saying they were "a misrepresentation of facts". But now Business Secretary Greg Clark has started an investigation. To get a clearer grasp on the situation and the upcoming investigation, Matt Cox spoke to Senior Analyst at NRG Expert, Edgar van der Meer.
Sue Dougan is joined in the studio by Hannah Maundrell editor in chief of money.co.uk. On the agenda today, as we head towards the winter, we are being warned to brace themselves for a rise in their energy bills. Elsewhere, Visa says consumer spending increased by 2.5% in October compared to the same month last year. Plus, Amazon is in the news again after being ordered to pay back the parents of children who made in-app purchases on mobile devices. All these stories and more on The News Review.
According to a key annual report annual report from energy practise Oliver Wyman, the biggest commodity trading houses have seen profits from reselling oil shipments jump more than 50% over the past five years. Roland Rechsteiner, co-author of "Reimagining Commodity Trading" at Oliver Wyman, talks on their annual oil report.
Sarah Pennells is joined in the studio by Kevin Pratt, web editor at MoneySuperMarket.com. Today they discuss the average fall in pay for self-employed workers as well as the growing cost of online fraud. Plus why fashion sales have suffered their worst decline in seven years. All these stories and more on The News Review.
Once again it's time for this week's edition of Moneywise. This week writer Tom Wilson and deputy editor Helen Knapmann join Georgie Frost to discuss the value of loyalty. Should we be using loyalty cards and schemes or can the best deals be found by switching and shopping around? Plus we find out what’s happening to Terry’s Chocolate Orange as well as hearing Tom’s product pick of the week and the results of their latest poll.
Georgie Frost is joined on the line by Hannah Maundrell, editor of money.co.uk. Today they discuss an investigation which has found Royal Mail has been responsible for delivering fraud letters as well as the news mobile phone companies are scrapping charges for switching networks. Plus how homeowners cashing in on Airbnb could be breaching their leases. All these stories and more on The News Review.
This week financial journalists Lindsay Cook and Anne Caborn take on energy tariffs- why are they still so complicated and can you negotiate a better deal? Plus we find out which delivery company is getting the Golden Gloves this week as well as answering how best to thank people for favours.