Dermot Nolan, the chief executive of energy regulator Ofgem, has apologised for failing vulnerable consumers. "We could have done better, and should have done better, for vulnerable customers," he told MPs on the Business and Energy Committee. Asked whether he wished to apologise to them, he said, "I do." However, he added that such customers would benefit from the forthcoming price cap on standard variable tariffs (SVTs). As many as 56% of households - around 11.5 million consumers - are still on SVTs, which are significantly more expensive than fixed-term deals.

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