Watchdog aims to hold overcharging suppliers to account
THE Fed has welcomed a new consultation from energy watchdog Ofgem aimed at holding suppliers to account for overcharging businesses.
The move comes after the Fed and other organisations signed an open letter to Ofgem, challenging the energy regulator to take immediate action to protect smaller businesses.
The Fed national president Muntazir Dipoti said: “Businesses who signed contracts at the peak of the energy prices need more support now.
“Government help was cut too soon to help these businesses and the energy companies are not doing enough to help.”
Meanwhile, the Fed has recovered more than £100,000 for its members in the news trade for the fourth year running.
Its contact centre reached the milestone in just seven months in 2023, breaking all previous records.
During this time, the centre dealt with over 9,000 calls from members reporting issues with their news wholesaler.
The money recovered relates predominantly to missing credits and voucher submissions, with the biggest single amount standing at £13,000.
Centre manager Andrew Williamson said: “The team is committed to ensuring the best possible outcome for members and they leave no stone unturned.”
