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Electricity customers to be protected from supplier failure

Tom Crisp Editor

On 7 December, the Utility Regulator (UR) published its decision paper on the treatment of customer credit balances in the implementation of a Supplier of Last Resort (SoLR) process. The existing process has financial implications for customers, particularly credit customers, if a supplier which holds their money exits the market. The SoLR process has only been invoked once, in December 2016, with the demise of Open Electric, when the UR decided that all customers would be reimbursed credit balances and security deposits. ...

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