Households will have to contribute £14 million towards costs arising from the collapse of GB Energy AlamyThe energy regulator came under fire last night after admitting that it had shelved plans for tougher checks on new suppliers, despite mounting concerns over their financial health. Ofgem pledged a year ago to review how it licensed new suppliers and to consider stress tests on existing ones, after the demise of GB Energy Supply in November 2016. Now, weeks after the collapse of Future Energy, another small supplier, Ofgem admitted yesterday that it had not conducted the review as promised. The Times also can disclose that the regulator has quietly approved plans for households to pay £14 million to help to cover the costs of GB Energy’s collapse — and that the former chief executive and other senior staff of the defunct company are launching…

Source: The Times February 02, 2018 23:48 UTC