Energy companies could hike bills as soon as October to pay for the crackdown on controversial prepayment meters 🔴 Ofgem say the ban on PPMs may have reduced “the effectiveness of suppliers’ activities to collect debts owed to them”
, including people aged over 85 and those who rely on medical equipment such as dialysis machines.
The new code is currently voluntary but may become a condition of the licence energy firms need to operate in the UK. However, further documents published by Ofgem today reveal the watchdog is also consulting with the energy industry on how to pay for the costs of the ban, including increasingA “call for input” has been sent to energy firms asking them if they think the tariff price cap needs to be “adjusted”.
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Ofgem tightens guidelines for energy suppliers on prepayment meters\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
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