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 Forget 'The Dress': Here are five of the biggest news stories you might have missed
- 2 The black and blue dress: Makers considering a white and gold version
- 3 PornHub turns masturbation into energy in bid to save the planet
- 4 The remarkable archaeological underwater discovery that could open up a new chapter in the study of European and British prehistory
- 5 MH370: 'Putin ordered plane to be flown to Kazakhstan space port,' conspiracy theory claims
Boris Nemtsov shot dead: Outspoken Putin critic who had expressed fears for his life is killed near the Kremlin
PornHub turns masturbation into energy in bid to save the planet
Ukraine crisis: Top Chinese diplomat backs Putin, says West should 'abandon zero-sum mentality'
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
Saudi Muslim cleric claims the Earth is 'stationary' and the sun rotates around it
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
This is what it's like to be dead, according to a guy who died for a bit
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
iJobs Money & Business
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...
£250-£300 Day Rate: Jemma Gent: Are you a qualified accountant with strong exp...
£230 - £260 Day Rate: Jemma Gent: Do you want to stamp your footprint in histo...