Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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Thursday 10 April, 2014



RNS Number : 5135E
10 April 2014





Thursday 10 April 2014



·      Ofgem found British Gas Business incorrectly blocked businesses from switching and failed to give some businesses notice that their contract was due to end

·      Supplier has already paid nearly £1.3m to affected business customers, and will now pay a further £3.45m into an energy efficiency fund and an £800,000 penalty

·      Switching fairly and easily is central to a well-functioning market

·      British Gas Business took swift action and has now remedied these issues

Ofgem's investigations found that British Gas Business had incorrectly blocked business customers from switching to other suppliers and failed to notify customers when their contract was due to expire. In recognition of these failures, British Gas Business is paying £5.6 million in redress and penalty.

Ofgem found that from 2007-2012 around 5.6% of the objections made by British Gas Business to non-domestic customers wanting to switch suppliers were invalid. This was caused by errors in British Gas Business's computer systems, and there being inadequate processes and controls in place to detect when objections to switches were invalid. In addition, they did not properly communicate to customers the reasons for their objections to switching and how customers could resolve this. Ofgem opened the investigation into British Gas in 2012 and they resolved these issues swiftly. British Gas Business will pay an £800,000 penalty and finance an Energy Efficiency Fund to benefit micro-business customers.

In a separate investigation, Ofgem found that British Gas Business failed to give notice to around 1,200 business customers (most of which were micro-businesses) that their tariff was about to expire. This meant that customers were denied the prompt to shop around for a better deal and instead either continued on the same terms or were rolled over onto standard tariff rates, which were more expensive than their previous contract. British Gas Business has already paid back nearly £1.3 million to fully compensate all current customers affected by this issue, and is in the process of contacting and paying back around £150,000 to affected customers who have since moved to other suppliers. If they cannot find those customers, the remaining money will also go into the Energy Efficiency Fund.

Sarah Harrison, Ofgem Senior Partner in charge of enforcement said: "The ability for consumers to switch easily and fairly is key to a well-functioning energy market. In these cases British Gas Business failed these consumers who were wrongly blocked from switching, many of them small businesses, and denied others the chance to switch to a better deal at the end of their contract. 

"British Gas Business fully accepts its failings, has stopped the practices and corrected its processes to prevent this happening again. The company has taken responsibility for its actions and this package strikes a balance of penalty for the company and redress for affected consumers."

British Gas Business cooperated fully throughout these investigations and this has been reflected in the level of the settlement package, which would have been much higher if this had not been the case.

Micro-businesses can find out more information about the Energy Efficiency Fund and register their interest at



Notes to editors

1.   Details of £5.6million package

Where non-domestic customers were incorrectly blocked from switching supplier:

·      £3.2m will be paid into the Energy Efficiency Fund in recognition of the invalid objections. The fund will provide energy efficiency measures, such as insulation and new boilers, to micro-business customers.

·      British Gas Business will pay an £800,000 penalty.

Where British Gas Business did not notify customers when their contract was due to expire:

·      Over £1.4 million will be paid back directly to those who did not receive their renewal documentation on time. British Gas Business has fully compensated all current customers affected by this issue, and is in the process of contacting and compensating affected customers who have since moved to other suppliers. If British Gas Business cannot find and compensate these customers, this money will also go into the Energy Efficiency Fund.

·      A further £250,000 will be paid into the Energy Efficiency fund in recognition of British Gas Business' failure to send renewal documentation on time to around 1,200 non-domestic customers. 


2.   Blocking customers from switching supplier


There are some legitimate circumstances in which suppliers can object to a consumer switching, for example if the customer owes money on the account. However, where this is the case, Ofgem rules state consumers must be given timely and clear information as to why the switch is being blocked and how this can be resolved.


Our investigation found that British Gas Business did not use its 'blocking power' fairly in 5.6% of the occasions where it objected to customers switching away. 


3.   Ofgem's protection for small businesses

Ofgem has taken significant action to increase protections for micro-businesses including:

·      Introducing enforceable standards of conduct to ensure suppliers treat them fairly on issues such as billing, switching supplier and contracting with them. More information can be found on our website 

·      All of the large suppliers have pledged to stop auto-rollover contracts in their current form in 2014 and Ofgem is currently reviewing this practice more widely. Ofgem continues to take action to help businesses understand their choices, so they know that negotiating new contracts could help them reduce their energy bills.  

·      Since November 2013, Ofgem has had new powers to clamp down on 'rogue' brokers and other organisations marketing to businesses in a misleading way. Ofgem is also developing a code of practice for tougher regulation of brokers and other intermediaries.


4.   Ofgem is the Office of the Gas and Electricity Markets, which supports the Gas and Electricity Markets Authority, the regulator of the gas and electricity industries in Great Britain. The Authority's powers and duties are largely provided for in statute, principally the Gas Act 1986, the Electricity Act 1989, the Utilities Act 2000, the Competition Act 1998, the Enterprise Act 2002, the Energy Act 2004 as well as arising from directly effective European Community legislation.

For further press information contact:

Lisa O'Brien 0207 901 7426

Dafydd Wyn 020 3263 9943

Rory Edwards 0207 901 7246
Out of hours media contact number 07766 511470



This information is provided by RNS
The company news service from the London Stock Exchange