Millions will be recovered from British Gas after it took over customers from the failed energy supplier, Together Energy.
On 29th July 2024, British Gas submitted a claim to Ofgem for costs incurred during this takeover.
As the Supplier of Last Resort (SoLR), British Gas is entitled to recover these costs with Ofgem’s approval.
Ofgem plans to reclaim £14.4 million to cover the costs of protecting customer credit balances.
Temporary changes were introduced in winter 2021/22 to safeguard consumers during market instability.
British Gas may submit further claims, with a final settlement expected in future years.
If British Gas received any overpayments, it will need to repay them, including interest.
Ofgem will consult stakeholders before making its final decision in November 2024.
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