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HomeRenewablescost of livingUK energy suppliers to pay higher compensation to customers

UK energy suppliers to pay higher compensation to customers

Ofgem has proposed increasing the compensation payments that energy suppliers must give customers if they fail to meet the Guaranteed Standards of Performance (GSoP).

The payment would rise from £30 to £40, reflecting inflation since the amount was set in 2015.

The move follows feedback from stakeholders on earlier proposals and aims to ensure compensation levels match the cost of living.

The GSoP, introduced by Ofgem, require suppliers to meet specific service standards.

Failure to do so triggers an automatic payment to customers.

This includes failing to keep appointments, fix meter faults, or switch suppliers within five working days.

Beth Martin, Director of Consumer Protection and Competition at Ofgem, said:  ”The guaranteed standards of performance set a clear expectation of the minimum standards suppliers must deliver for their customers.

“When these are not met, it is only right that the customer is fairly and automatically compensated.”

Energy Live News
Energy Live Newshttps://www.energylivenews.com
This article first appeared on Energy Live News, an award winning news service. Their mission is to give you balanced news, analysis, commentary of energy from their dedicated team of quality journalists and production staff.
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