So Ofgem were given the remit to set a price cap to allow domestic energy suppliers to make a profit but not to price gouge those who don’t switch regularly. Half the domestic energy suppliers go bust but ofgem continues to set a cap. Now they’re suing them?
As many might just try and twist this into “well what can Ofgem do” let’s actually try and correct that fake narrative comments that’s being pushed everytime articles about this are posted in places.
The actually case is around did Ofgem follow their legal responsibilities or not when determining the new price cap.
Ofgem havent provided any evidence to show they did follow all their legal obligations hence the push for a court case founded on that basis.
It’s also important to note that Ofgem are the only ones you can actually try to make a court case against not the Government itself. Ofgem hold all legal responsibilities not any MP or the government itself. Such responsibilities including protecting those that well be impacted with some specific groups such as elderly and disabled set out. This go’s back to even before the price cap itself existed.
So while yes a lot of their power may be limited to how far the government itself is willing to go and sign off on that still doesnt change that its Ofgem that has to be challenged on a basis of law. You cant bring a case against Bojo or the Tories it can only be to Ofgem as they are the ones with the legal responsibilities in this field.
Ofgen has a very narrow, legislatively-defined mandate and it is operating at that mandate at a time when energy prices are horrendously volatile. The only ones who can do anything about devastating energy prices is the government, anything outside of what the government does (or does not) do here is a side show.
Ofgem a Tory puppet the last decade.
So you can see why were arrived here.
The record profits made by energy companies should be used to offset the cost to consumers instead of being paid out as a dividend to shareholders or as a bonus to executives. But that’s just my opinion.
From a lawyer that loves reading his name in the print more than for the outcomes.
They are just part of the problem. They need a massive overhaul but don’t let their failures distract you from the real problem: the energy companies themselves. It is Shell, Centrica, BP etc. that are the real problem and changes to Ofgem won’t be enough to tackle the record profits from the energy companies.
Sue OFT for having their teeth removed, *and* having to roll over … I know times are a bit desperate, but so is that idea.
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So Ofgem were given the remit to set a price cap to allow domestic energy suppliers to make a profit but not to price gouge those who don’t switch regularly. Half the domestic energy suppliers go bust but ofgem continues to set a cap. Now they’re suing them?
As many might just try and twist this into “well what can Ofgem do” let’s actually try and correct that fake narrative comments that’s being pushed everytime articles about this are posted in places.
The actually case is around did Ofgem follow their legal responsibilities or not when determining the new price cap.
Ofgem havent provided any evidence to show they did follow all their legal obligations hence the push for a court case founded on that basis.
It’s also important to note that Ofgem are the only ones you can actually try to make a court case against not the Government itself. Ofgem hold all legal responsibilities not any MP or the government itself. Such responsibilities including protecting those that well be impacted with some specific groups such as elderly and disabled set out. This go’s back to even before the price cap itself existed.
So while yes a lot of their power may be limited to how far the government itself is willing to go and sign off on that still doesnt change that its Ofgem that has to be challenged on a basis of law. You cant bring a case against Bojo or the Tories it can only be to Ofgem as they are the ones with the legal responsibilities in this field.
Ofgen has a very narrow, legislatively-defined mandate and it is operating at that mandate at a time when energy prices are horrendously volatile. The only ones who can do anything about devastating energy prices is the government, anything outside of what the government does (or does not) do here is a side show.
Ofgem a Tory puppet the last decade.
So you can see why were arrived here.
The record profits made by energy companies should be used to offset the cost to consumers instead of being paid out as a dividend to shareholders or as a bonus to executives. But that’s just my opinion.
From a lawyer that loves reading his name in the print more than for the outcomes.
They are just part of the problem. They need a massive overhaul but don’t let their failures distract you from the real problem: the energy companies themselves. It is Shell, Centrica, BP etc. that are the real problem and changes to Ofgem won’t be enough to tackle the record profits from the energy companies.
Sue OFT for having their teeth removed, *and* having to roll over … I know times are a bit desperate, but so is that idea.