Ofgem has fined power network firms making ‘excessive profits’ totalling £41.7million since 2010
Reasons include not restoring electricity or repairing gas leaks quickly enough
POWER network firms making “excessive profits” have been repeatedly fined for bad practice.
Energy regulator Ofgem has handed the companies — which own the gas pipes and electricity grids that power firms use to supply homes and businesses — fines totalling £41.7million since 2010.
Reasons include not restoring electricity or repairing gas leaks quickly enough.
The largest fine was £15million meted out to National Grid for anti-competitive practices.
The firms, which do not bill families directly, are the ones who deal with power outages.
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Last week, we revealed how they made £7.5billion profits last year, with bosses paid up to £5million a year.
Ed Molyneux, of collective bargaining site The Big Deal, said: “These fines are just a drop in the ocean.”
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