Regulation will need to ‘go much further’ following string of provider collapses, says Ofgem
The energy regulator has promised to enact tougher stress tests for energy suppliers to prove they have the financial strength to weather a surge in energy market prices – with consequences for suppliers which fail.
Ofgem’s chief executive, Jonathan Brearley, said regulation would need to “go much further” to assess whether suppliers are able to survive unpredictable energy market shocks, after the collapse of more than 20 suppliers in the last 12 weeks.
