Ofgem consults on reintroducing its market stabilisation charge to cushion suppliers from wholesale price swings
Summary
Ofgem is planning action to cushion energy firms from wholesale price swings, the Evening Standard and The Independent reported on Friday 16 October, the watchdog saying it is looking at re-activating its market stabilisation charge, first put in place after Russia's invasion of Ukraine. Ofgem has published a consultation on a proposal to reintroduce the charge, which aims to prevent suppliers failing if there is a customer exodus, as the regulator worries about the impact of sharp swings in energy prices linked to the conflict in the Middle East, The Guardian reported. Energy suppliers could be forced to pay a charge to rivals if they lure customers with cheaper deals, as the regulator for Great Britain attempts to prevent suppliers going bust this winter, according to The Guardian.
Latest: Ofgem has published a consultation on a proposal to reintroduce its market stabilisation charge, under which energy suppliers could be forced to pay a charge to rivals if they lure customers with cheaper deals, to prevent suppliers going bust this winter, The Guardian, the Evening Standard and The Independent reported.
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How it unfolded
Friday 16 October
Ofgem has published a consultation on a proposal to reintroduce its market stabilisation charge, under which energy suppliers could be forced to pay a charge to rivals if they lure customers with cheaper deals, to prevent suppliers going bust this winter, The Guardian, the Evening Standard and The Independent reported.