Responding to Ofgem’s announcement on measures to boost financial resilience in the energy sector, Energy UK’s CEO, Emma Pinchbeck said:
“The industry has long been calling for a more sustainable regulatory and policy environment– not only to avoid situations like the present one, but because suppliers need to drive the innovation in products and services to help customers get the best of the green energy transition.”
“The energy industry’s priority is to support customers through these next months, but it’s right Ofgem is acting to ensure that in future all suppliers are equipped to cope with volatile costs, otherwise more will exit the market – ultimately leaving customers to pick up the bill. It is also right Ofgem look at what can be done in the short term to prevent further costs to customers and further fragility to a critical industry. We will look at the proposals in detail and look forward to discussing them with our members and Ofgem.”