Fury as Ofgem lets energy giants keep £500million

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Energy watchdog Ofgem is preparing to allow electricity grid operators to keep nearly half a billion pounds raised from household bills – even though they failed to hit targets on stopping power being wasted.

Ofgem has the right to reclaim up to £489 million from the companies that operate the national electricity grid under the terms of a scheme designed to ensure they keep energy waste to a minimum.

But it is poised to waive the option to recover the money because it doubts the accuracy of figures for the amount of power wasted.

via Fury as Ofgem lets energy giants keep £500million | This is Money.

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