Ofgem put forward plans to toughen up on business energy suppliers


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With the rising prices implemented by energy suppliers affecting both households and businesses, industry regulator Ofgem has made clear its plans to help businesses in the United Kingdom change their suppliers, according to an article published by BBC News.

Many energy suppliers take advantage of automatic renewed contracts, meaning many businesses will be signed up with their supplier for up to three years, sometimes without any knowledge of this agreement - one of Ofgem's major concerns.

The regulator also wants to penalise those energy companies that prevent businesses from seeking another supplier.

Ofgem has now drawn up a code of conduct that it is planning to put forward to the government - potentially providing it with a greater level of power.

Chief executive for Ofgem, Alistair Buchanan stated: "During our investigation into the energy market, businesses told us about a range of problems they were having with energy suppliers and also some energy brokers.

"As we have demonstrated in the domestic market, we will also take a tough line on any suppliers we find systematically breaching rules designed to protect businesses," he added.

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