A former executive at the oil company BP has called for increases to the energy price cap to be scrapped and for suppliers that fail to help households struggling with bills to be nationalised.
Nick Butler, who worked for BP for almost 30 years and was group vice-president for strategy and development, said that expected rises in the cap should be abandoned by the industry regulator, Ofgem, which he said had been “overwhelmed by events” after turmoil in the global energy markets sent 29 British energy retailers to the wall.
