Tuesday, July 5

UK Regulator Bans Energy Supplier From Taking on New Customers


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(Bloomberg) — British regulator Ofgem banned UK Energy Incubator Hub Ltd. from taking on new customers as part of an order for the company to improve its client service.

The company supplies energy to about 3,000 customers under its brands Northumbria Energy and Neo Energy. Ofgem has been under fire recently for its stewardship of the UK retail energy market after more than two dozen suppliers went out of business in the past year, adding more costs to customers bills.

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“Our top priority at Ofgem is to protect consumers and make sure we are holding suppliers of essential services like energy to the highest of standards,” said Cathryn Scott, Ofgem’s director of enforcement and emerging issues. “Where this is not happening, we will not hesitate to act.”

Under the provisional order, Ofgem will require UK Energy Incubator Hub to make sure customers can contact them by phone and email and to resolve those inquiries quickly. If the company doesn’t comply, Ofgem could take away the supplier’s license or issue a fine.

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