The government claims the move will see around 11 million households across the UK make savings on their energy bills

The proposals aim to enable the delivery of emissions-free green energy across the country and meet national net zero targets, while also maintaining high levels of service and grid reliability

Ofgem has confirmed that the scheme will be available as a last resort option

The move will save UK consumers money on their bills over the 45-year cost period

The firm overcharged around 4,400 of its customers on their default tariff energy bills

The water regulator says returns on invested capital will be capped at a rate of 5.02%, down from the current limit of 6.64%

Ofgem said the supplier must make the necessary payment immediately or face further action

The regulator says the move is intended to protect consumers and the wider energy market

The regulator has consulted on 12 requests for additional funds by network companies for adjustments in their funding

The supplier provided around 280 businesses with their electricity – now it has ceased to trade, Ofgem will choose a new supplier to take on its customers