Ofgem: New measures for rising energy prices

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The energy regulator in Britain Ofgem today proposed new measures to protect consumer money and prevent high charges from energy suppliers, a move that comes at a time when households are struggling to meet rising energy costs.

Ofgem said its measures were aimed at reducing the risk of bankruptcy of most electricity and gas suppliers, as well as preventing a recurrence of the last autumn and winter crisis.

More than 25 energy suppliers collapsed last year, under unbearable economic pressure from record increases in wholesale energy prices.

The British government earlier this month asked energy network operators to implement new measures to better deal with extreme weather conditions.

The changes proposed today include restrictions on payments through fixed charges to “ensure that balance balances do not increase excessively,” according to Ofgem.

The proposed package also includes rules for protecting consumer money in the event of a company going bankrupt and transferring its customers to a new supplier with balances on their accounts, ensuring that households do not have to pay extra financial costs.

“Today’s proposals will ensure that hard-earned consumer money is adequately protected so that a company can pay the bill in the event of bankruptcy and not consumers,” said Jonathan Briarli, CEO of Ofgem. .

Household energy bills in Britain are set to rise by 40% in October, Ofgem warned last month, as the cost-of-living crisis escalates as pressure on the government to take more action to help the poorest Britons. .

source: ΑΠΕ

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