Jan 30, 2020

Customers 'overpaid for electricity for years'

AFP Customers have overpaid on electricity for seven years because the regulator has made targets too easy for network operators, a watchdog has said. The privatised electricity supply business is divided into the supply companies - the ones customers deal with, which buy and sell the power - and companies which manage the delivery of electricity from power stations to our homes. Current rules, known as RIIO-1, give electricity networks an allowance to run and invest in their systems. During the full eight years of RIIO-1, due to end in 2021, the distribution networks expect to underspend by 3% on average. Gas and electricity networks have been heavily regulated since they started to be privatised in the late 1980s.

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