Ofgem Cracks Down on Energy Suppliers

The UK’s fourth-largest energy supplier, OVO, has agreed to a £2.37m settlement following a regulatory investigation by Ofgem. The energy watchdog uncovered significant delays in addressing customer complaints, with some unresolved for up to 18 months. In addition, OVO failed to action the Energy Ombudsman’s rulings in certain cases. As part of the settlement, the London-listed supplier will directly compensate 1,395 affected customers with £378,512. An additional £2m will be paid to the Energy Industry Voluntary Redress…