8
Acknowledged
Avro Energy improperly used customers’ money, including siphoning off customers’ cash to different businesses in...
Conclusion
Avro Energy improperly used customers’ money, including siphoning off customers’ cash to different businesses in the directors’ names, issuing loans to the directors, and paying poorly performing executives an unreasonably high salary. We were disappointed by the admission from Ofgem’s former CEO, Dermot Nolan, that the regulator was oblivious to this activity while it was going on.
Government Response Summary
Ofgem acknowledges the committee's concerns and notes that it has provided views to the Government regarding the Strategy and Policy Statement.
Paragraph Reference
55
Government Response
Acknowledged
Government Response
Acknowledged
HM Government
Acknowledged
Ofgem would welcome the publication of the Strategy and Policy Statement and has provided views to Government.
Source
Committee
Business and Trade Committee
Report
Third Report - Energy pricing and the future of the Energy Market
26 Jul 2022
HC 236
Addressee Bodies
Department for Business and Trade
Timeline
Recommendation age
3.8 yrs
Report published
26 Jul 2022