Ofgem slams Utilita’s ‘ill-founded’ CMA appeal
Utilita’s appeal against Ofgem’s decision to introduce minimum capital requirements for energy retailers has been slammed as “ill-founded” by the regulator. The prepayment meter specialist has concerns that the capital target of £115 adjusted net assets per domestic dual fuel equivalent customer will not achieve its objective and as a result it applied to the Competition and Markets Authority to appeal the decision in the summer. Yet the regulator has hit back and even accused Utilita of not being a resilient supplier.
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