How Will The New Ofgem Regulations Impact Energy Providers?

In March 2018 Ofgem announced its decision to formally ban Gas and Electric suppliers from backbilling consumers for energy which was consumed over a year ago.

The move came after a review found the voluntary agreement amongst energy providers, to not backbill customers past the 12-month mark, was not being adhered to by suppliers outside of the Big 6, leaving many customers struggling financially when large unexpected energy backbills arrived.

This decision, although good news for consumers, represents an additional challenge to Energy providers in an increasingly competitive and complex industry.