What does Ofgem regulate?

What does Ofgem regulate?

The Office of Gas and Electricity Markets (Ofgem) regulates the monopoly companies which run the gas and electricity networks. It takes decisions on price controls and enforcement, acting in the interests of consumers and helping the industries to achieve environmental improvements.

Is Ofgem a regulator?

Ofgem is the official regulatory body for the electricity and natural gas markets in Great Britain. In other words, it is the energy regulator. In 1986, when the market was opened up to competition, and households were given the ability to choose their supplier, a regulator was required.

Does Ofgem regulate British Gas?

Ofgem has appointed British Gas to take on supplying People’s Energy’s approximately 350,000 domestic customers and around 1,000 non-domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers.

What customers do Ofgem protect?

Ofgem is Great Britain’s independent energy regulator. We work to protect energy consumers, especially vulnerable people, by ensuring they are treated fairly and benefit from a cleaner, greener environment.

What do Ofgem do to ensure all this works?

The main role of Ofgem is to keep tabs on the energy market to protect the interest of electricity and gas consumers. According to its website, this includes things like: Supervising and developing the energy markets and competition. Promoting security and sustainability of the energy supply.

Does Ofgem cover LPG?

Government to extend Ofgem’s regulatory oversight to cover domestic heating oil and LPG. As part of this, Ofgem should make sure that similar protections and assistance provided to customers on 3 Page 5 the gas network is offered to those who do not have a connection to the gas network.

What does Ofgem stand for?

the Office of Gas and Electricity Markets
Ofgem is the Office of Gas and Electricity Markets.

Is Ofgem civil service?

Ofgem is the Office of Gas and Electricity Markets. We are a non-ministerial government department and an independent National Regulatory Authority, recognised by EU Directives.

Who pays Ofgem?

Ofgem is funded by a licence fee levied on the energy industry, and not by taxpayers. The £31 million of fines it has imposed on the industry since 2002 is not used to fund Ofgem, but is paid directly to the Treasury. Ofgem E-Serve’s costs of administering environmental programmes are met from a variety of sources.

How can I get in touch with Ofgem?

You can find the answers to many common questions in our information for consumers section. If you have an enquiry relating to Ofgem’s policies or functions, contact us at [email protected], on 020 7901 7295 or at the addresses below.

Who owns Ofgem?

The Gas and Electricity Markets Authority is governed by the Chairman Martin Cave, executive members as well as non-executive members. Jonathan Brearley was appointed Chief Executive of Ofgem from February 2020.