A Report on the £1.3bn Ofgem are forcing us to pay to suppliers - with no benefit to consumers!
My blog on producing a report of Ofgem's £1.3bn charge to consumers
Hi guys,
The good and bad news: I've officially stopped working at Over50smoney and will be The Regulator Guy full time from here on out! This is exciting, but the downside for you is that I'm going to be a lot more active in the energy market and will be asking you all to get involved with consultations, petitions, social media campaigns and anything else I can think of to help us sway Ofgem into making the right decisions for our finances, hopefully.
In this update I wanted to tell you about the first thing I've done as The Regulator Guy, which is working for the Warm This Winter campaign to produce a report on the new allowance Ofgem have added to the price cap. The new allowance equates to £700m extra revenue for energy suppliers, and means we'll be paying over £1.3bn in total for debt-related costs to suppliers this year.
You can read my blog on this report in the link at the top of this article. Please do subscribe to my blog and share it around so others can see how Ofgem are penalising customers to help suppliers.
We need to work together to make real change here, I'll be doing what I can over the coming months to make some serious changes to the way our energy regulator operates, I'd really appreciate your support as much as possible.
Thanks guys, I'll be back in a couple of days.
Richard Winstone