Friday, 13 January 2012

Ofgem Fines

So Ofgem has imposed a penalties of £2.5M on BG and £2.0M on npower for breaches of the Consumer Complaints Handling Standards Regulations. Given that the charge represents just 0.02% of BG's turnover will this do any good? Perhaps the line managers responsible will get a good kicking but then it'll all get forgotten. What about those who oversee the whole shebang? Isn't this another area where shareholders ought to be rattling a few cages (it's their money, after all). How about the penalites being recovered from the bonus pots of the respective Executives?

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