CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

E ON given 3m penalty

Article By: ,  Financial Analyst

Energy supplier E.ON has been ordered to pay a £3 million penalty by industry regulator Ofgem.

The firm was unable to prove that it distributed free energy-saving light bulbs to consumers, with some of them having been sold in Ireland.

Tony Cocker, chief executive of E.ON UK, apologised for the mistake and stated that the necessary changes have been made after talks were conducted by Ofgem.

"Overall energy efficiency obligations have been met, with the shortfall being made up by additional measures. No consumers were misled because of this mistake, but this does not take away from the fact it was an error that should not have been made," he said.

It was revealed that some £2.5 million of the energy supplier's penalty is going to be used to reduce the bills of vulnerable households.

E.ON is one of the big six energy suppliers in the UK, along with rivals in the sector British Gas, EDF Energy, npower, Scottish Power and SSE.

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