As part of Ofgem’s fourth “deep dive” into energy supplier standards, the energy regulator found all 17 of the UK’s largest energy suppliers to have weaknesses in consumer practices.
At the start of the week, the Department for Business, Energy and Industrial Strategy (BEIS) “named and shamed” a number of energy companies that had the lowest voucher redemption rates for the Energy Bills Support Scheme (EBSS).
Business and Energy Secretary Grant Shapps has called on energy suppliers to stop force fitting prepayment meters with many doing “nowhere near enough” to support vulnerable customers.
Both the National Energy Action (NEA) and the Social Market Foundation (SMF) have said that over seven million households face the risk of fuel poverty come April 2024 prompting calls for politicians to provide “workable long-duration policies”.
Ofgem has moved to protect consumers from the cost of supplier failures, with the potential introduction of capital adequacy requirements and renewable obligation (RO) receipts.
11 retail energy suppliers have signed up to Energy UK’s Vulnerability Commitment aiming to drive continuous improvement in support for customers in vulnerable circumstances.
SP Energy Networks will provide £5 million in funding to support vulnerable communities currently facing barriers in transitioning to net zero emissions.