Brearley fires warning shot at networks and retailers

The new chief executive of Ofgem has pledged to crack down on “sharp practice” in the energy retail sector and promised networks a squeeze on the cost of capital. Jonathan Brearley also vowed to change the perception of the regulator as overly concerned with short-term cost-cutting at the detriment of future investment. And, he insisted the fears around the potential pitfalls of the energy price cap have so far proven to be misplaced.

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