How Ofgem’s failures cost public billions

OFGEM’s failure to regulate suppliers has come at ‘considerable cost’ to Britons, MPs claimed yesterday.

The Commons’ Public Accounts Committee said Ofgem was slow to act as suppliers faced difficulties, leaving customers to pick up the £2.7 billion shortfall.

Labour’s Meg Hillier, the committee chairwoman, said: ‘Households will pay dear, with the cost of bailouts added to record bills.’