Bonus ban for failing fat cat energy bosses under new shake-up of watchdog Ofgem

Government

Energy firms will be banned from handing bonuses to failing fat cat bosses under a government shake-up. Regulator Ofgem will get the power to prevent executives netting windfalls if they breach existing licence conditions in a way that is seen to significantly harm consumers. The move will need legislative change It is part of an overhaul of Ofgem designed to ensure it works harder for billpayers. The regulator has been accused of not coming down hard enough on energy firms in the past while

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