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

SBM Offshore, SWS Sign Deal for Seventh FPSO Hull

Oil Holds Steady After US, Iran Agree to Cease Attacks

Saipem to Sell Saudi Shallow-Water Drilling Business to ADES for $285M

EnQuest to Buy Malaysia Offshore Interests in $833M Deal

Vantage Drilling Agrees to $258M Takeover by Eldorado Drilling

BP Launches Gas Production at Azerbaijan’s Giant ACG Field

BP to Boost Azerbaijan Portfolio with Babek Gas Field Operatorship Takeover

Energean Cuts 2026 Output Forecast After Israel Shutdown

Global Oil Supply to Fall Short of Demand as Iran War Goes On, IEA Says

Oil Prices Edge Higher Amid Uncertainty Over Iran Deal

Current News

TGS Gets Exclusive Rights for Seismic Survey Offshore Brunei

Petronas Unit Probes Cause of Fire at Offshore Platform in Malaysia

SBM Offshore, SWS Sign Deal for Seventh FPSO Hull

Hormuz Reopening Risks Turning Oil Shortage Into Glut

Oil Holds Steady After US, Iran Agree to Cease Attacks

Floating Nuclear: A New Offshore Energy Frontier

Markets: Oil Majors Reload Exploration Hoppers Across Sub-Saharan Africa

ONGC Completes 44 Offshore Rig Moves Ahead of Monsoon Season

ONGC Expands BP Partnership with Western Offshore Basin Services Contract

Walking Into the Future: ADNOC Drilling Unveils First AI-Powered Island Rig

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