Utilities

The energy industry regulator has admitted that there are too many unsustainable energy suppliers providing gas and electricity to British homes after it encouraged a stampede of start-ups into the market. The chairman of Ofgem, Martin Cave, said customers had faced a string of energy company failures, “unacceptable” pricing tactics and “shoddy customer service” as the market has grown to more than 80 suppliers. The “downsides” of the market’s growth meant that “arguably too many suppliers have come into the market with unsustainable business models”, he told an industry conference. It is the first time Ofgem has admitted that it has allowed too many financially shaky companies to take charge of providing an essential service to customers. It comes after four suppliers collapsed in as many months, leaving more than 700,000 homes in limbo while the regulator appoints a new supplier.

Telegraph 10th Jan 2019 read more »

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Published: 11 January 2019