- Publication date
- 9th November 2016
- Closing date
- 1st February 2017
- Policy areas
This is our first consultation on implementing the Competition and Markets Authority's (CMA) recommendations for industry code governance. This consultation seeks views on what the scope of the new regulatory framework should be and how we should transition to it. It also sets out initial proposals for our strategic direction for codes, the consultative board and the licensing of code managers.
We want to make sure these remedies are practical, workable and operate in consumers’ best interests. Input from stakeholders is critical to ensuring these remedies are delivered successfully. We will need to explore the diverse nature of industry codes and the different roles and responsibilities of parties in relation to them. We will fully consider a range of implementation options before we decide on the right model.
These code governance reforms will ensure important industry changes that will benefit consumers most are progressed without delay.
Once in place, the new framework will deliver:
- a coherent vision for strategic change led by us, and clearer lines of accountability for delivering it by the industry.
- a system of code governance that allows strategic change to be delivered smoothly, efficiently and in interests of consumers.
- a clear, ongoing signal for industry players on where to deploy their resources.
We welcome your views, which we will consider as we develop and implement these reforms in 2017. Please respond to this consultation by 1 February 2017. All responses should be sent by email to CodeGovRemedies@ofgem.gov.uk. Any responses that you do not wish to be published should be marked as confidential.
We will host a stakeholder event during the consultation period to discuss our proposed approach and gather views. This will be on 12 January 2017. If you would like to attend, please contact CodeGovRemedies@ofgem.gov.uk.
- Update on our initial consultation on implementing the CMA's recommendations for industry code governance: Responses summary and next steps