Jonathan Brearley UPS Citi Action Jonathan Brearley

Ofgem must live up to vows to protect money of energy consumers

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The energy regulator Ofgem would like you to believe its new measures to ringfence customers’ deposits are “tough”. They certainly ought to be.

About £400m of customer money evaporated with the failure of 28 energy suppliers since last September – the coffers only refilled via a charge on all households.Unfortunately, the regulatory boast of toughness looks premature.

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