A senior executive at one of Britain’s most complained about energy suppliers is planning a new gas and power venture, just weeks after his former employer collapsed. The energy regulator has granted a licence to Extra Energy’s former managing director, Ben Jones, just one week after it was forced to put in place a bailout plan for the company’s 100,000 stranded customers. At the time of its collapse, Extra Energy ranked among the worst for customer service, had lost almost three quarters of its customers, and failed to pay millions for renewable energy subsidies, which were claimed through customer bills.
Telegraph 15th Dec 2018 read more »
Households face a bill of almost £14m to pay for the collapse of small energy supplier Iresa. Bills will increase to cover the £11.5m Iresa owed in credit balances to its 100,000 customers, as well as other costs. Octopus Energy, a larger rival, took on the customers and paid the bills. Octopus is now asking other suppliers to chip in, under a controversial industry levy system set up by the regulator, Ofgem. Ofgem said on Friday that it was minded to approve the application, subject to a consultation. SSE and Npower are set to update the market this week on a planned merger of their retail energy units into a new listed business. It was thrown into doubt last month after the pair said they were renegotiating terms.
Times 16th Dec 2018 read more »