The previous Energy Retail Market Strategy was primarily driven by the objective to accelerate switching rates. The collapse of energy retailers demonstrated the flaws of this approach. The revised retail strategy will need to develop a market that differentiates not just on price, but on the services offered by suppliers. It needs to create incentives for customers to make the investments needed to decarbonise their homes and reward suppliers for providing enticements to reduce demand. It wi...

The previous Energy Retail Market Strategy was primarily driven by the objective to accelerate switching rates. The collapse of energy retailers demonstrated the flaws of this approach. The revised retail strategy will need to develop a market that differentiates not just on price, but on the services offered by suppliers. It needs to create incentives for customers to make the investments needed to decarbonise their homes and reward suppliers for providing enticements to reduce demand. It will need to provide protection for, and reduce the barriers to, customers who are at risk of missing out on the benefits of this market. Type: conclusion | Number: 38 | Paragraph: 161 | Response status: not_addressed Government response: Ofgem is working with the Department to ensure the development of a clear and coordinated roadmap for the future energy retail market to support the achievement of an effective transition to net zero in line with the targets set by Government. Ofgem’s vision for t