Co-Operative Energy is paying £1.8m in compensation for a series of customer service failings, after becoming the latest gas and electricity supplier to suffer problems with a new IT system. The sum equates to an average of just £7 for each of the 260,000 customers who were affected by the problems, which followed the introduction of the new system in March 2015. The payout nevertheless represents a sizeable hit for the small supplier, which saw its pre-tax profits for the year ended January 2016 collapse by 85pc to £941,000 due to the costs of dealing with the billing fiasco.
Telegraph 27th Oct 2016 read more »
Green energy specialist Ecotricity has acquired rival Good Energy’s largest shareholder holding, bringing its total stake in the company to 24.85 per cent. The acquisition, which was listed yesterday on Good Energy’s website, means Ecotricity is now the largest shareholder in Good Energy, with a share well in excess of founder Juliet Davenport’s 3.9 per cent.
Business Green 27th Oct 2016 read more »