UK Energy Watchdog Proposes Tests for New Suppliers

Wednesday, November 21, 2018

Britain's energy regulator Ofgem has proposed financial and customer service tests for new suppliers after several smaller energy providers went bankrupt over the last year, it said on Wednesday.

Ofgem said the tests should ensure new entrants are robust while encouraging competition in the market.

"Companies would have to demonstrate they have adequate financial resources and can meet their customer service obligations before Ofgem awards them a licence to supply energy," the regulator said in a statement.

It said the tests should be in place by spring 2019.


(Reporting by Sabina Zawadzki; Editing by Jan Harvey)

Categories: Finance Energy Europe Government Regulations

Related Stories

Norway's 2025 Oil Output Climbs to Highest Level Since 2009

TotalEnergies Posts 13% Drop in Fourth-Quarter Profit

Vaar Energi Raises Output Target, Beats Profit Forecasts

Current News

Ndungu Full-Field Starts Up Offshore Angola

Norway's 2025 Oil Output Climbs to Highest Level Since 2009

AKOFS Offshore Inks New Vessel Deal with Petrobras

UK Trade Body Challenges Government View on North Sea Gas Decline

Subscribe for OE Digital E‑News