Ofgem warns energy suppliers of strong enforcement action as crisis deepens. It warned electricity and gas providers they will work with police and UK fraud authorities if they suspect a company is responsible for causing a “significant deterioration” in a supplier’s financial position. doing. Ofgem’s head of retail, Neil Lawrence, sent a powerful letter to all retail energy suppliers this week, “minimizing costs” that could be spread across all consumer energy prices when the suppliers are folded. It reminded me of the responsibility of “restricting”. The letter, which the Financial Times saw a copy of, was sent Wednesday the day before three more suppliers went bankrupt in the face of record wholesale gas prices. The list of casualties in the UK’s crisis-stricken retail energy industry has grown to 10 since early August.
FT 29th Sept 2021 read more »