The watchdog also found the price cap was 'providing only very limited protection to households from increases in the wholesale price of energy', noting that Ofgem expected prices could 'get significantly worse through 2023'
Ofgem's failure to effectively regulate energy suppliers since 2018 has"come at a considerable cost" to British households, a watchdog report has found.
The committee's report said around 29 energy suppliers have failed since July last year, which has subsequently affected some four million households. The PAC report concluded this was due to"Ofgem's failure to effectively regulate the energy supplier market".
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