Energy profits, pensions, financial education and housing

The Government is to investigate claims that energy providers are pocketing larger profits than they have previously admitted, according to The Sun.

The newspaper says that gas and electricity firms may be netting six times more than they state. But trade group Energy UK rejected The Sun‘s claims, saying they were ‘a misrepresentation of the facts’.

However, using figures published in a report commissioned by Energy UK from the accountancy firm PwC, The Sun says that suppliers could be making a 24 per cent profit margin. This compares to a 4 per cent profit margin on the price of a typical dual fuel bill which has been recorded by the regulator, Ofgem.

Now the business secretary, Greg Clark, will examine the claims. Pensions Large number of employers could have been incorrectly issued with hundreds of thousands of pounds worth of auto-enrolment fines, according to new research by payroll and pensions platform, Paycircle. According to a recent report from The Pensions Regulator, more than eight in ten businesses that sought a review of penalty notices they’d received had them either altered or rescinded completely.