Ofgem tightens up utility monitoring

Visits from independent auditors is one item among a number of proposals that the UK's Office of Gas and Electricity Markets aims to implement to safeguard customers against bankruptcies and also improve the level of service among suppliers.

Photo: Thomas Borberg

The UK's Office of Gas and Electricity Markets (Ofgem) has presented a range of proposals tightening its monitoring of energy companies and especially their financial situations to ensure consumers don't get hit by bankruptcies.

On its website, Ofgem writes the reform proposals apply to existing companies and aim at heightening the standards for customer service, reducing the risk of financial collapse and strengthening the safety net.

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