The power companies have been raking in the pounds for a very long time now, and yet we are told that we could face power cuts because they haven’t invested in our power network system.
We all hear stories and nightmares about the power companies, from price increase, to overcharging, and even sending bills to some households who aren’t even there customers. The problem with the power companies is they love big profit but don’t want to invest, they will cut power supplies, and probably increase bills to compensate there loss due to it.
Ok Ofgem has said we will fine them, but no doubt these fines will be minimal and nothing will materialize except more price increases. Ofgem have known for a long time about this problem so why only now issue warnings? Come on Ofgem wake up to the real world your there to look after our interests, not the power companies.
Electricity network companies are putting customers at an “unacceptable” risk of power cuts as they try to maintain Britain’s ageing pylons and wires, according to Ofgem.
In a letter to all operators, including Scottish Power, Scottish & Southern, Warren Buffett’s CE Electric and E.ON, the energy regulator has threatened to fine operators if they don’t improve their services.
In a worrying sign for investors, it threatened to impose “penalties to have a proportionate impact on shareholder returns”.
The letter principally warns network companies that they must be quicker about reporting any breaches of their engineering obligations while they work to keep the network in a good state.
“We want to raise our concern that the approach being adopted by some distribution network operators to assess their compliance may be exposing customers to unacceptable levels of risk regarding security of supply,” wrote Rachel Fletcher, Ofgem’s distribution partner.
The letter highlighted one incident in which a company took years to report a problem with its network to Ofgem.