Labour say they're going rough-up the energy companies

21 August 2014

energy The licences that energy companies have, so they can do business, could be revoked by a new regulating body who are there to protect the interests of the public.

That sounds alright doesn't it? Sadly, this won't ever happen because Labour are doing that thing where they say 'when we get in power, we're going to do all this amazing stuff', when they know that they won't get voted in, so they don't have to actually implement anything.

They might as well say: 'Under a Labour government, honest, hard working people can be certain that each town and city will have a unicorn mayor that shits £50 notes for everyone and each home will be fitted with a milkshake tap.'

Shadow energy and climate change secretary Caroline Flint said the current Government had helped to create a "broken energy market".

She reckons that Labour will create a tough new regulator who will manhandle power suppliers and have the ability to cancel energy firms' licences if they repeatedly commit the most "serious and deliberate breaches of their licence conditions which harm the interests of consumers".

Flint is obviously playing to the gallery here, as everyone knows that we're all irritated by the way the energy companies are currently doing their business thanks to crappy customer service, mis-selling, whacking prices up when they feel like it and all the rest.

Ofgem have issued 30 fines since 2001, which total in advance of £87m. That's a lot of money to us, but presumably, energy firms have that kind of money down the back of the sofa in loose change.

Flint says that Labour's reforms would see the regulator producing an annual scorecard for energy suppliers, reporting on the firms' performance and identifying problem areas.

"The public have a right to be treated fairly by energy companies," she said. "Where firms fail to meet these standards, there must be tough and decisive action. Too often energy companies seem to view the regulator's fines as a cost of doing business - not as a warning to get their act together."

"Of course consumers must be compensated - but if energy companies persist in mistreating their customers they must know their licence could be on the line."

TOPICS:   Utilities

1 comment

    I think the reverse is more likely, Labour had 13 years to address the energy companies and what did they do - NOWT.

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