Three more energy companies hit with fines
After British Gas got slapped silly with a fine, Ofgem are at it again, doling out financial penalties to other energy firms. Three of them have agreed to cough-up for a total of £4.6m for failing to meet energy efficiency targets. They've probably got that in loose change down the back of their considerable couches.
Scottish Power, SSE and generator GDF Suez/IPM are all going to be paying up after they missed environmental targets which they'd been issued with by the government.
Like the British Gas fine, the money from these will go to charities that will help vulnerable customers.
Basically, what's happened is that these companies have missed the targets where they were required to lower carbon emissions by making their customers' homes more energy efficient with things like cavity wall insulation and the like.
Ofgem said SSE would pay £1.75m for missing their targets, while Scottish Power will be paying £2.4m and GDF Suez/IPM is forking out £450,000.
Over the past few weeks Ofgem have issued fines that total almost £55m to six companies and £49.7m of that money will go to charities while the remaining £5m is a fine to be paid by Drax.
And yes, you can fully expect this to be recouped by the energy firms when they put everyone's bills up next year.