Electricity suppliers may have to put up a bond
Thursday 15 January 1998
The idea was canvassed yesterday by Professor Stephen Littlechild, the electricity regulator, as a way of spreading the debts of defaulting suppliers across the industry.
The size of the bond would relate to the supplier's market share and would help pay industry creditors and householders who could be owed money when their supplier went under.
A consultative document issued by Professor Littlechild suggests that the bond should be large enough to cover the costs of providing an electricity supply for at least one month. However, it leaves open questions such as the actual size of the bond.
The paper comes amid growing speculation that the Government is about to announce a delay of up to six months in the start of competition for domestic customers.
Householders are due to be allowed to start shopping around for a supplier from April but computer problems and the slowness of some regional electricity companies in gearing up for competition, mean that the start date may have to be put back to September.
- 1 PlayStation and Xbox hacked by Lizard Squad
- 2 Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
- 3 The Grace Dent Christmas Questionnaire
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
PlayStation and Xbox hacked by Lizard Squad
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
Boxing Day snowfall set to push even more bargain-hunters online for sales
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
iJobs Money & Business
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
£43500 per annum + pension + holidays: The Jenrick Group: Night Shift Operatio...
£20000 - £25000 per annum + OTE £40,000 + Car + Pension: SThree: SThree are a ...
£20000 - £25000 per annum + OTE £35K: SThree: We consistently strive to be the...