Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, if his Department will make an assessment of the potential merits of requiring energy companies to ringfence the credit balances of their customers to ensure that those balances are not lost in the event of an insolvency.

Ofgem, as the independent regulator of Great Britain gas and electricity markets examines ways to mitigate the impact of energy supplier insolvencies on consumers.

In June 2022, Ofgem published a consultation on options for protecting customer credit balances including ringfencing a proportion of credit balances, with the intention of a statutory consultation to follow.