Ofgem pushes for stronger powers to take action against failing suppliers

Energy regulator, Ofgem is urging the government to grant it more powers so it is better placed to take action against suppliers which fail to meet the required standards of customer service. As well as new powers, the regulator is also exploring the introduction of a consumer duty which is similar to that adopted by…

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Ofgem outlines greater protection for businesses on broker fees

Businesses will get fairer treatment, more support resolving disputes and greater transparency on broker fees under new rules announced by Ofgem. The changes will apply to the non-domestic energy sector, which includes businesses, public services like sports centres and village halls, utilities, charities and more. The new rules will make sure energy suppliers improve customer…

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Ovo calls for standing charge reprieve for vulnerable

Ovo Energy is calling on the government to remove standing charges for the most vulnerable customers this winter and has confirmed it will be retaining the current standing charge level after the 1st October as the price cap comes into effect. The company has also renewed its calls on the government to introduce a social…

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Ofgem announces new customer service measures

Energy suppliers’ enquiry lines may need to stay open for longer, including evenings and weekends under new proposals from regulator Ofgem. The new measures are part of a series of proposed reforms to improve standards of customer service both for businesses and households, and follows extensive engagement with suppliers, businesses, consumers and other organisations. The…

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Ofgem gives energy firms finance warning

Sector regulator Ofgem says a number of energy companies do not meet its financial resilience standards. While it did not specify which companies were falling short of its standards, it warned that around a third of the market is below the target. The energy regulator has written to energy companies warning them that an expected…

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Three energy firms to pay £8m compensation over late bills

Three energy suppliers have been made to pay compensation totalling £8 million for failing to supply a final bill on time to more than 100,000 households that had switched provider. Apasrt of the measures energy customers who have been overcharged are to receive a combined total of £2.7 million from two suppliers – Good Energy…

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Ofgem reveals new oversight measures for energy companies

Energy regulator Ofgem has revealed that British domestic energy suppliers have signed up to an updated Code of Practice and tougher Ofgem oversight of prepayment meters (PPMs) that are enforced under warrant installations or remotely switched without consent (all involuntary installations). The Code of Practice sets out clear procedures that suppliers must follow, strengthening protections…

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Government encouraged to overhaul Ofgem powers amid energy squeeze

Chief Executive of UKHospitality, Kate Nicholls, has warned the energy secretary that the industry regulator needs to be handed powers urgently to tackle the treatment of business customers by suppliers. In a letter to Grant Shapps MP, the Secretary of State for Energy Security and Net Zero, UKHospitality has reiterated the pressing need for OFGEM…

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Energy companies halt forced installation of prepayment meters

Following Energy Security Secretary Grant Shapps’ intervention last week, all energy suppliers have now committed to ending the forced installation of prepayment meters in vulnerable customers’ homes. Concerns were raised about the sharp rise in companies seeking warrants to enter people’s homes to forcibly install prepayment meters, Mr Shapps wrote to energy bosses insisting they…

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Business Secretary calls on energy suppliers to put remedial actions in place

Business and Energy Secretary Grant Shapps has given energy bosses a deadline of Tuesday (7th February) to report back to him on what remedial action – such as providing compensation – they plan to take should they have wrongfully installed prepayment meters in the homes of vulnerable customers. The Business Secretary has today told Ofgem…

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Shell Energy Retail to refund £537,000 to customers after price cap overcharging

Shell Energy Retail is to refund and compensate 11,275 prepayment customer accounts it has overcharged on its default tariffs. The total amount of customer detriment to be refunded is £106,000. Refunds will be issued automatically to affected customers. In addition, the supplier will pay £400,000 to Ofgem’s voluntary consumer redress fund and £30,970 in goodwill…

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Ofgem proposes quarterly price cap revIews

Energy regulator Ofgem, has proposed that the energy price cap on bills should be reviewed every three months instead of twice a year to help households. Ofgem says that at a time when consumers are being squeezed financially from all sides, it is looking at how it can use its powers to make the market…

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Energy suppliers to be financially stress tested

Energy suppliers will undergo financial stress testing from January to measure their resilience against a range of scenarios in a raft of new measures announced by Ofgem which aims to boost financial resilience in the energy sector. Ofgem says that where stress testing reveals weaknesses, the regulator will agree an improvement plan for companies to address any concerns, particularly where consumers are…

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