Ofgem board director Christine Farnish quits over energy price cap | Ofgem

A director at energy regulator Ofgem has resigned, accusing it of favouring businesses over consumers with a rule change that will add as much as £400 to the average UK household energy bill.

Christine Farnish, a non-executive member of the Gas and Electricity Markets Authority (Gema), Ofgem’s board, tendered her resignation to the business secretary, Kwasi Kwarteng, in early August.

Farnish said the regulator “gave too much benefit to companies at the expense of consumers”, according to a leaked internal Ofgem announcement. Across the UK’s 27m retail energy customers a £400 annual bills increase could cost households more than £10bn.

Ofgem is under pressure after being blamed by some critics for not preventing the collapse of 29 energy suppliers since mid-2021. The crisis is…

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News Source: www.theguardian.com

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