To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to minimise the cost to consumers affected by energy suppliers that cease trading.
Ofgem, through the the Supplier of Last Resort (SoLR) process, works to minimise the financial impact when customers are moved away from a failed supplier. It is for Ofgem, as expert regulator, to scrutinise the costs and consider any claim on the industry levy. In some instances the new supplier has absorbed all the costs of taking on customers.
In order to ensure consumers are protected in an evolving market, Ofgem is reviewing their approach to licensing, and considering options to improve the efficiency and competitiveness of the SoLR process.