Ofgem warns energy firms to drop worst tariffs or face targets

Watchdog says besides price caps it can force companies to offer cheaper deals to customers on standard variable ratesBig energy companies face a regulatory crackdown after the industry watchdog threatened to impose targets forcing suppliers to shift millions of customers off the market’s worst-value tariffs. Dermot Nolan, the Ofgem chief executive, said companies had failed to act quickly enough and should move faster to take customers off the standard variable tariffs which about two-thi