Ofgem's reply to 'The Times'

Correspondence and other

Publication date

Industry sector

Supply and Retail Market

Yesterday's leader claimed that Ofgem was too soft on the industry while producing no convincing evidence to support the case. The facts tell a different story. Ofgem has imposed over £200 million in penalties on the industry since 2010 - £40 million of this for mis-selling. 

Shortly after being appointed CEO I used the strongest sanction we have by referring the market to the Competition and Markets Authority (CMA). The reason for the referral was that I believe the market was not working properly for consumers and we stand ready to implement the CMA's final remedies to ensure consumers get a better deal. 

December's record £26 million fine on npower is a clear signal for the year ahead that we are determined to punish those companies that fail consumers through poor customer service and undermines your argument that we have gone soft on the industry. 

Dermot Nolan
Ofgem Chief Executive