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Not sure what the reference to ringfencing credit balances is. Surely they aren't suggesting customers could lose those balances?
aggi-
I imagine it’s “ringfence” in the sense of being protected from either the hedging support or profit sharing? I’d be astounded if the govt allowed these to not be protected…
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So an update having read more on this (expect more news this week from OFGEM):
Currently customer balances aren’t ringfences. So if a supplier goes under its not guaranteed that these are kept separate from the wider company bank balance. Legislation now coming in so that these are ringfenced, in much the same way that FCA protects up to £80k of savings/bank deposits.
C4r1s
This? https://www.cityam.com/octopus-pushes-for-bulb-deal-after-approval-delayed-by-rivals-intervention/
Thanks for mentioning this, interesting read.