Rule Change Gives Teeth To U.K. Energy Watchdog

Law360, New York (April 9, 2008, 12:00 AM EDT) -- The U.K.'s energy regulator will soon have the power to fine utility companies that fail to comply with tough new standards for dealing with customer complaints.

Britain's Office of Gas and Electricity Markets said Wednesday the new rules, to take effect on July 1, will apply to all complaints from residents and small businesses.

Power suppliers that fail to meet the standards face enforcement action by Ofgem, which will be able to impose fines of up to 10% of a company's turnover.

Ofgem's chief executive, Alistair...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.