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

Aker BP More Optimistic on Johan Sverdrup Peak Output as its Q3 Profit Grows

Aker BP Reports Quarterly Profit Decline

BP’s Profit Drops 30% to Almost Four-Year Low

Current News

Orsted says US Green Energy Demand Will Grow Regardless of Election Results

Norclamp Introduces Infinity Clamp for Aging Subsea Pipelines

Green Marine UK Scales Up Environmental Monitoring Services for Offshore Wind

Canada Proposes 35% Oil and Gas Sector Emissions Cut By 2030

Subscribe for OE Digital E‑News