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Energy UK responds to Ofgem’s announcement on new financial measures for suppliers

Responding to Ofgem’s announcement on new financial measures for energy suppliers, Dan Alchin, Director of Regulation at Energy UK said:

“We’ve long called for stronger measures to ensure that new suppliers entering the retail market have the right expertise and financial resilience to withstand a volatile environment. We also welcome moves to reduce the costs that are passed onto customers when suppliers exit the market – something that has been brought into sharp focus with nearly 30 providers having gone out of business since last August. However this would still leave customers facing substantial costs when a supplier fails, which underlines the importance of creating a sustainable retail market over the next few years.”