Ofgem Review

Ofgem was established almost a quarter of a century ago as the independent regulator for gas and electricity markets in Great Britain. At the time, a system of independent regulation was established to drive the move towards competition in gas and electricity supply and replicate the benefits of competition in the monopoly gas and electricity networks.In recent years the energy sector has faced huge challenges. Against this backdrop, it is more important than ever that consumers are protected and that they receive good customer service. Government wants to see an energy market that delivers better outcomes for consumers and a regulator that drives up consumer standards. To address these challenges the government will undertake a review of Ofgem, with the aim of revisiting the role of the regulator and how it delivers to ensure that it can regulate to support an energy market where innovation and high standards help drive better products and services for consumers.