Energy suppliers row over how to protect customers’ overpaid credit

British Gas owner Centrica says insurance plan won't stop risky business practices while Octopus calls ringfencing financially illiterate'

The owner of British Gas has hit back at rival Octopus Energy in a row over how best to protect households' overpaid credit in the fallout from a string of supplier failures.

Centrica's chief executive, Chris O'Shea, said its competitor's proposed solution to protect consumers with an insurance scheme would allow companies to operate risky business models and dip into customers' deposits as a free overdraft facility".