Source · Select Committees · Business and Trade Committee
Recommendation 8
8
Acknowledged
Paragraph: 55
Avro Energy improperly used customers’ money, including siphoning off customers’ cash to different businesses in...
Conclusion
Avro Energy improperly used customers’ money, including siphoning off customers’ cash to different businesses in the directors’ names, issuing loans to the directors, and paying poorly performing executives an unreasonably high salary. We were disappointed by the admission from Ofgem’s former CEO, Dermot Nolan, that the regulator was oblivious to this activity while it was going on.
Government Response Summary
Ofgem acknowledges the committee's concerns and notes that it has provided views to the Government regarding the Strategy and Policy Statement.
Paragraph Reference:
55
Government Response
Acknowledged
HM Government
Acknowledged
Ofgem would welcome the publication of the Strategy and Policy Statement and has provided views to Government.