UK Energy Watchdog Proposes Tests for New Suppliers

Wednesday, November 21, 2018

Britain's energy regulator Ofgem has proposed financial and customer service tests for new suppliers after several smaller energy providers went bankrupt over the last year, it said on Wednesday.

Ofgem said the tests should ensure new entrants are robust while encouraging competition in the market.

"Companies would have to demonstrate they have adequate financial resources and can meet their customer service obligations before Ofgem awards them a licence to supply energy," the regulator said in a statement.

It said the tests should be in place by spring 2019.


(Reporting by Sabina Zawadzki; Editing by Jan Harvey)

Categories: Finance Energy Europe Government Regulations

Related Stories

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Brownfield Output Decline Accelerates, says IEA

PV Drilling Takes Ownership of Noble Corporation’s Stacked Jack-Up Rig

Floating Offshore Wind Test Center Planned for Japan

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Norwegian Oil Investment Will Peak in '25

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Current News

MODEC Ramps Up Hammerhead FPSO Work After ExxonMobil's Go-Ahead

Aesen, DOC JV Targets Subsea Cable Logistics

Timor Gap Boosts Stake in Finder Energy’s Timor-Leste Oil Fields

SBM Offshore Starts Construction of FSO for Trion Oil Field off Mexico

Russia Targets 2028 for Sakhalin-3 Gas Project Start Up

Seatrium Secures ABS Backing for Deepwater FPSO Design

MDL Secures Cable Laying Job in Asia Pacific

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Yinson Production Nets DNV Approval for New FPSO Hull Design

Hanwha Ocean's Tidal Action Drillship Starts Maiden Job with Petrobras

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com