Citizens Advice’s response to Ofgem’s statutory consultation on strengthening milestone assessments and additional reporting requirements
Ofgem was consulting on proposals to strengthen milestone assessments and add additional reporting requirements for suppliers to notify of significant commercial developments.
Generally we are supportive of the new proposals to strengthen the existing milestone assessments and notifications on significant commercial developments and personnel changes, as we believe this will strengthen Ofgem’s ability to intervene with unsustainable suppliers and prevent consumer harm from commercial developments. They are not sufficient however, and it’s important that the other steps in Ofgem’s financial resilience action plan are taken forward, including stress tests of companies, rules on the use of credit balances and changes to the Renewables Obligation.
However, we believe that any new regulatory functions must be backed by additional monitoring, compliance and enforcement resource.