USE OF ENFORCEMENT POWERS ON ENERGY COMPANIES BY OFGEM

Motion Text

That this House calls on Ofgem to not refrain from using their ability to impose a maximum financial penalty of up to 10 per cent. of an energy company's turnover if a company is seen to be acting anti-competitively; recognises that recent energy price rises by the big six are clear acts of anti-competitive behaviour; further calls on the Government, who would collect the fine into a consolidated fund via the Treasury, to enforce this financial penalty and redistribute this money to hard pressed customers this winter; and further calls on the Government or Ofgem at the very least to be seen to be considering this option as a means to give the big six pause for thought.