Energy bosses face bonus ban under tough new regulator powers

• The UK government is introducing reforms to significantly strengthen the energy regulator Ofgem's powers to protect consumers.
• Under the new measures, Ofgem will be able to ban bonuses for energy company executives whose actions cause substantial harm to customers.
• Ofgem will also gain the authority to directly enforce consumer law, allowing for quicker compensation without lengthy court processes.
• The changes aim to update Ofgem's remit, which has not been significantly revised since its founding in 2000, to address a more complex energy market.
• While consumer groups welcome the move, Energy UK expressed disappointment, arguing the reforms fall short of radical changes needed for a streamlined regulator.

IN FULL

Energy firm bosses could lose bonuses if they ‘break the rules’ in major Ofgem reforms