Richard calls for better oversight of OFGEM and other regulators

Last week in Parliament, Richard questioned the Rt Hon Grant Shapps, Secretary of State for Energy Security and Net Zero, about Ofgem and other industry regulators.

Richard Fuller MP said:

I highlighted to the Secretary of State the myriad shortcomings that Ofgem have overseen in the energy sector including failures on the price cap and billions of taxpayers' money used on energy company bailouts. I questioned why the Chief Executive is still in post rather than enjoying remuneration of over £250,000 including 5-figure bonuses in the past 2 years.

The role of regulators is to protect consumer interests and hold companies to account within the industry sectors that they operate. For too long and in too many sectors, regulators like Ofgem have been ripping off customers and allowing companies to do the same.

Richard's exchange with the Minister can be watched here.

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