Nov 25, 2022
Energy sector reforms criticised by British Gas owner
Energy regulator Ofgem has announced plans to make the sector more resilient to market shocks, but has been heavily criticised by British Gas. British Gas owner Centrica accused Ofgem of an "Abdication of responsibility". A raft of energy suppliers have collapsed since the start of last year after being unable to cope with soaring energy prices. Ofgem is proposing a range of reforms including making sure companies have sufficient financial strength to deal with future energy shocks. "These proposals will provide protections, checks and balances for consumers, suppliers and the entire sector to create a more stable market," said Ofgem chief executive Jonathan Brearley.
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