Home Business News Ofgem hits three energy firms with £870k fines

Ofgem hits three energy firms with £870k fines

by LLB Reporter
30th May 19 11:00 am

Ofgem has fined three energy companies £870k after they broke competition law, E (Gas and Electricity) Limited, Economy Energy, and Dyball Associates had an anti-competitive agreement.

The watchdog said as part of the agreement the energy suppliers shared commercially sensitive information of customer’s meter point detail.

Ofgem fined Dyball £20,000 for acting as a facilitator, Economy Energy was fined £200,000 and E was fined £650,000.

Anthony Pygram, director of conduct and enforcement at Ofgem said, “E and Economy Energy agreed not to target each other’s customers with the assistance of Dyball Associates, leaving some customers potentially worse off by being unable to access deals from the other supplier.

“Customers should have an opportunity to switch to other suppliers and should not be prevented from doing so by anti-competitive agreements, and suppliers should all have an equal opportunity and compete on a level playing field with rivals.

“This enforcement action sends a strong signal to suppliers that we will take action and penalise those who undermine competition and do not act fairly.”

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