UK energy regulator Ofgem reforms

The 'transformation' of Ofgem represents the first major update to the regulator's scope since its founding in 2000.

Under the new rules, energy bosses could be barred from receiving payouts if their firms cause 'significant harm' to consumers or repeatedly breach service standards.

This move follows public outcry over massive profits at energy giants while millions of households struggle with rising bills.

The government aims to create a more accountable energy market that prioritizes the needs of vulnerable customers during the ongoing energy crisis.