Ofgem has submitted a bid for more Treasury funding, Jonathan Brearley has revealed, as he warned that the next price cap is likely to top his previous estimate of £2,800. Giving evidence to the House of Commons Public Accounts Committee, the Ofgem boss said it is moving towards to a system of prudential regulation like that already operating in much of the financial sector, which will require “different resources and skills”.
Ofgem submits Treasury bid for extra funding
