Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Considered state aid in the EU of Brussels ... liberalization of energy markets is written in stone.

Since August, 25 suppliers have fallen victim to surging prices, which left them paying far more for gas but selling it for far less because of an energy price cap that was intended to protect bill payers.

The regulator, Ofgem, arranged for healthy competitors to take on the collapsed firms' customers via its "supplier of last resort" scheme, which prevents disruption to household supply.

But agreeing to serve so many extra customers meant the suppliers of last resort had to buy more energy on wholesale markets. They can charge that cost - £1.83bn, according to Ofgem disclosures - to local gas and electricity distribution networks from April.

"Ofgem's safety net has protected more than 4 million customers through the unprecedented global gas prices this year, making sure they have an energy supplier and household credit balances are honoured," a spokesperson for the regulator said.

'Sapere aude'
by Oui (Oui) on Wed Dec 22nd, 2021 at 08:02:26 PM EST

Others have rated this comment as follows:


Occasional Series