- Publication date
- 28th June 2019
- Information types
- Policy areas
This report complements our Annual Report. It assesses the benefits that some of Ofgem’s regulatory decisions, taken in the financial year April 2018 to March 2019, are expected to provide or, in the case of compliance and enforcement actions and switching trials, have provided to consumers.
Ofgem typically has over 100 specific regulatory decisions in progress in a given year and so it is not practical for this report to cover all. For those we do report, only a fraction of the benefits we deliver to consumers can be readily or easily estimated and given a monetary value. Where possible, we have quantified the benefits of the decisions we made in 2018-19. Based on our calculations, the decisions covered in the report are expected to result in estimated direct benefits of £2,555 million. These benefits are uncertain and will be realised over a long time period (up to 50 years).
Ofgem spent £97 million delivering these benefits. This gives a ratio of direct benefits to costs of 26, meaning we expect every £1 we spent to deliver direct benefits of £26 to consumers.
A summary of this year’s report is included in our Annual Report and Accounts.