Utilities and telecoms executives to speak at the Credit Summit

Speakers include heads of debt, credit and collections from EON, British Gas, Southern Water, Tesco Mobile and Capita, along with the regulator, Ofgem, among others.

The influential speakers and panellists will be in attendance at the QEII Centre in Westminster on March 15, where the Utilities and Telecoms conference stream will be one of eight conferences that form part of the Credit Summit.

Among the speakers are Paul Stretton, head of debt and credit at Extra Energy; Ian Parry of Pure Planet; and Phil O’Shiel, managing director of Akinika at Capita, who will discuss building trust and a relationship with customers.

Later on, Ofgem head of consumer vulnerability strategy, Meghna Tewari will be speaking on current regulatory standards and considering increased regulatory synergy.

The sector is undergoing significant change, with the looming introduction of a price cap, which would be imposed until 2023 should the bill before the House of Commons pass.

A report by the Business Select Committee found that around 12 million consumers are overpaying for their energy by as much as £300 a year.

The committee, which has reviewed proposed legislation, said that it would support the government’s cap, which would impose an absolute limit on energy prices, to be reviewed every six months.

There have also been increased efforts to prevent consumer indebtedness, with Ofgem imposing a ban on backbilling customers beyond 12 months.

Backbills can result from problems with a supplier’s billing system, or from suppliers estimating bills until they have an actual meter reading which may show that the customer’s consumption is higher than expected. Suppliers then send a ‘catch-up’ bill to recover the difference.

According to Ofgem, the typical backbill is in the region of £1,160. However, they can be much higher, leaving customers struggling financially and often falling into debt. As such, Ofgem has decided to ban all domestic and microbusiness suppliers from issuing backbills for energy used more than 12 months ago.

For your chance to join and network with influencers and decision makers from the utilities and telecoms industry, visit www.creditstrategy.co.uk/credit-week