British Gas Business has agreed to pay a £9.5 million penalty after the energy watchdog said it “let customers down” following billing and complaints issues.
A KPMG audit of UK oil and gas industry contracts has revealed widespread overbilling at the same time as firms are trying to slash costs.
The professional services firm said 70% of the 10,000 deals it looked at were not properly complied with, leading to regular overcharging.
KPMG put the cost of unnecessary spending at between 1% and 5% of “high-risk” investments, meaning a significant level of unnecessary spending on a supply chain worth up to £35billion a year.
