Gas and electricity suppliers will undergo independent audits of their customer services operations and financial strength under proposed new rules unveiled by the energy watchdog.
Ofgem said it could also stop fast-growing providers from taking on new customers if they fail checks ensuring they can effectively serve their customer base, while management will have to meet “fit and proper” requirements and firms will have to maintain “living wills” as part of the plans.
It said the reforms are designed to drive up customer service standards, lower the risk of suppliers going bust and bolster the safety net.
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