From January, energy suppliers will need to undergo financial stress testing to prove their resilience in light of the cascade of supplier collapses in recent months.
Citizens Advice has accused Ofgem of a “catalogue of errors” that has left consumers with a multi-billion-pound bill due to the collapse of suppliers.
The Competition and Markets Authority (CMA) has confirmed its decision that the Gas and Electricity Markets Authority (GEMA) was wrong on a number of modifications made following Ofgem’s RIIO-2 price control decisions of 8 December 2020.
Network operators were allowed to benefit at the expense of customers after Ofgem failed to enforce tougher price controls under RIIO-1, a government watchdog has concluded.
With the finalised framework for RIIO-ED2 released yesterday, the industry has praised Ofgem’s commitment to decarbonisation whilst pointing to the possibility of "going further".