Affordability farrago hits regulated sectors

There must have been sighs of relief at Millbank this week when the papers landed. “Ofgem orders local electricity companies to cut costs to consumer”; “Ofgem orders electricity providers to cut costs” – a welcome break from the usual “toothless watchdog” rhetoric, played out once again this week when Ofgem’s interim chief executive, Andrew Wright, was hauled up in front of the Energy and Climate Change Select Committee.