Fury as Ofgem lets energy giants keep £500million


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.

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