New energy suppliers to face tougher checks - MSE News

Former_MSE_Callum

Companies applying for a licence to supply energy will have to undergo tougher tests from June after a run of smaller went bust over the past year...

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'New energy suppliers to face tougher checks'

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brewerdave

Horse and bolted comes to mind

Merlin139

Why are we waiting till June?

With all the companies that have gone bust and the ones who could not manage a P**s Up in a brewery (OFTM) as a prime example why have OFGEM not pulled their figure out and done this already?

I would say that all new Energy Suppliers should provide a Bond of say £15 Million so if they go bust its not the Tax Payer who indirectly picks up the bill!

Mister_G

I see that the Bulb spammers have already come out of the woodwork!

Cardew

You would think a lesson would be learnt.



https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/647338/Competition_in_Gas_Supply.pdf

facade

On the other hand, it was win, win win for the customers.



When I took a deal with Whoever it Was Who Went Bust First (GB Energy , Energy UK or something- it was recommended on MSE), I got cheaper energy, then they went bust and the Co Op took over, maintaining my un-sustainably cheap prices until my deal ended, then refunded my credit when I switched from them to someone cheaper.


Took a few months to get the refund mind, so I suppose I might have lost a few pennies in interest over having it back sooner.