The energy regulator has pledged to help deliver a net-zero transition at the lowest cost possible to the consumer.
Ofgem’s pledge came as part of its newly published medium- and long-term objectives.
The watchdog also wants to “enable competition and innovation that drive down prices and result in new products and services.”
It added that it would continue to “protect consumers, especially the vulnerable, stamping out sharp practice and ensuring fair treatment.”
Martin Cave, Chair...
Three companies have been fined by Ofgem after breaching competition rules.
Two energy providers – E Gas & Electricity and Economy Energy – and software and consultancy firm Dyball Associates were fined a total of £870,000.
Ofgem said that between January and September 2016, the three companies agreed that the two suppliers would not actively target one another’s customers through face-to-face sales.
The suppliers shared commercially-sensitive information in the form of customer meter poi...
Ofgem is pressing ahead with plans to significantly reduce returns for networks in a move which operators said would damage their ability to deliver on the UK’s clean growth ambitions.
The regulator said it had confirmed its methodology for calculating the next round of network price controls, known as RIIO-2, and aimed at delivering a smarter and more sustainable energy network at a lower cost to consumers.
The methodology allows for a baseline return on equity of 4.3%, almost 50% lower than ...
The deployment of subsidy-free renewables could be pushed back by up to five years if Ofgem presses ahead with its Targeted Charging Review, according to a new report.
Aurora Energy Research said the proposed changes under the review, under which the regulator is looking to spread the cost of network infrastructure via fixed charges instead of the current system relating to electricity consumption, would damage onshore wind and solar.
Aurora said under its estimates deployment of solar would b...
Ofgem has announced a strategic review of the microbusiness energy market amid concerns customers are not getting a good deal.
The regulator said its initial analysis shows that market information is often inaccessible, resulting in customers paying high prices and struggling to make informed decisions.
Ofgem pointed out that microbusinesses play a central role in the UK economy. According to government data, there were over five million microbusinesses in the UK in 2018, accounting for a thir...