‘Too slow to act’: Ofgem’s ‘failures’ cost energy consumers billions, say MPs

Damning report questions regulator's fitness to police the industry after so many suppliers folded

MPs have questioned whether the energy regulator, Ofgem, is fit to police the industry after it was blamed for costing British households billions of pounds as a result of suppliers going bust.

Politicians on the powerful public accounts committee said Ofgem had failed to govern the sector at a considerable cost to billpayers" in a damning report into the regulation of energy suppliers.