UK Energy Operators Face Scrutiny Over Windfall Profits ...Middle East

OILPRICE - Economy
UK Energy Operators Face Scrutiny Over Windfall Profits
source : OILPRICE ( Middle East ) () 94
Citizens Advice, a UK consumer protection organization, has reported that energy infrastructure operators in the country enjoyed windfall profits paid for by consumers, all thanks to a wrong formula for calculating their returns, as devised by market regulator Ofgem. According to the consumer protection watchdog, energy network operators in the UK saw their profits swell by an excessive 4 billion pounds, or $5 billion, over the last four years while a growing number of households struggled to pay their energy bills. The problem stemmed from Ofgem’s…

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