The UK’s energy regulator, Ofgem, has announced a decision to postpone its plans to end the temporary Last Resort Supply Payment (LRSP) multi-claim process.
This move comes in the wake of opposition from energy suppliers who pushed back against the proposed reversion to the single claims process.
Ofgem explained that they have opted to maintain the existing multi-claim LRSP process until after the winter of 2023/24.
The regulator’s decision is rooted in a desire to observe market stability over an extended period before implementing any alterations.
Ofgem cited responses from energy suppliers as a factor in their decision-making process.
The feedback from these suppliers revealed a division of opinions on the proposed changes.
