Sky high energy prices have forced many businesses to cut back or close entirely
The energy regulator Ofgem has announced a package of measures to prevent unexpected price hikes and encourage energy suppliers to be more upfront with costs, after small businesses and public services have complained of getting a raw deal.
Ofgem's expansion of its regulatory powers in the energy markets will not just affect private business, but could make it cheaper for organisations to heat their local village hall, or for charities to plan for the financial year ahead, without being slapped with unexpected charges or tariff changes.
This follows an Ofgem survey that showed more than half of those taking part in the research said they were concerned about the impact of energy prices on their business, with 42 per cent reporting they were very concerned. And almost two thirds of businesses were satisfied with the overall service they had received from their supplier, with 13 per cent saying that they were dissatisfied.
“We’ve worked hard to understand the breadth of issues and where the powers we have to tackle them can be improved. These new rules will help ensure businesses get the service they deserve.
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