Skip to main content

Ofgem must live up to vows to protect money of energy consumers

Regulator should face down cries for delay or lengthy transition periods in its plans to shake-up sector

The energy regulator Ofgem would like you to believe its new measures to ringfence customers’ deposits are “tough”. They certainly ought to be. About £400m of customer money evaporated with the failure of 28 energy suppliers since last September – the coffers only refilled via a charge on all households.

Unfortunately, the regulatory boast of toughness looks premature. A properly robust plan to prevent deposits being used like “an interest-free company credit card”, as Ofgem’s chief executive, Jonathan Brearley, put it, would be adopted immediately. Some suppliers would have to raise equity to replace deposits they have been using as working capital, but a determined regulator would insist that they do.

Continue reading...

from The Guardian https://ift.tt/kfslF0G
Labels:

Comments

Post a Comment

Popular posts from this blog

How Rico Lewis helped harden up Manchester City’s treble challenge | Jamie Jackson

Guardiola believes advent of the teenage talent sowed seeds of change that turned his side into champions again Mid-January, the Etihad Campus. Before Tottenham’s visit a discontented Pep Guardiola is addressing a Manchester City team meeting that includes Erling Haaland, Kevin De Bruyne, John Stones and Ederson. The champions are in second place, eight points behind Arsenal, each having played 18 games. Performances have dipped and so has the attitude of his players. The final match before the World Cup was a 2-1 home defeat by Brentford . Since the tournament, City have beaten Leeds and Chelsea, drawn with Everton and lost their previous outing , 2-1 at Manchester United. Seven points from 15 is not championship-defending form and, when being knocked out of the Carabao Cup by Southampton is factored in, Guardiola can see City’s campaign derailing. Continue reading... from The Guardian https://ift.tt/h8WjbMX
Post a Comment
Read more

Wandsworth escape accused says it was ‘foolish’ to jail him with his ‘skill set’

Daniel Khalife, 23, says he absconded because he was ‘terrified’ of being locked up with dangerous offenders A former British soldier has told a jury he did not hand himself in after he escaped from prison because he was “finally demonstrating what a foolish idea it was” to imprison someone with his “skill set”. Daniel Khalife, 23, told the court he absconded from Wandsworth prison while on remand because he was “terrified” of being locked up with “serious sex offenders” and “terrorists” who wanted to kill him, and that he did not think his imprisonment would be in the public interest. Continue reading... from The Guardian https://ift.tt/vRZHkaw
Post a Comment
Read more

Bodies of Men: the love story taking on toxic masculinity in a time of war

Nigel Featherstone’s new novel tackles traditional conservatism and patriarchy through an unconventional romance How can you be a man and be anti-war? This is the question that Sydney-born novelist Nigel Featherstone, who is a pacifist, considered while he took up a three-month writing residency in a military library. He set out to discover what happens to very different expressions of masculinity placed under military pressure. “Australia does have a very defined, toxic brand of masculinity,” says the bespectacled Featherstone, seated by the window at his local pub facing the railway station at Goulburn, north of Canberra, while men on stools at the nearby bar sink beers and televisions on the walls screen horse racing results. Continue reading... from The Guardian http://bit.ly/2N8piOc
Post a Comment
Read more