Jonathan Brearley Britain COST UPS Provident Jonathan Brearley Britain

UK energy watchdog promises tougher stress tests for suppliers

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theguardian.com

The energy regulator has promised to put in place 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 weather unpredictable energy market shocks, after the collapse of more than 20 suppliers in the last 12 weeks.The energy regulator boss was forced

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