- Publication date
- 14th November 2017
- Information types
- Policy areas
Ofgem is today asking for stakeholder views on whether the current energy supply market arrangements need to be reformed to boost innovation and competition.
Since privatisation, suppliers have acted as the primary interface between consumers and the energy system.
Ofgem thinks this ‘supplier hub’ model has reinforced the dominance enjoyed by large suppliers and has stifled competition in the retail market.
As we move towards a smarter and more competitive energy system, new technologies and business models offer significant benefits to consumers.
But there is evidence that these current arrangements which underpin the energy supply market could hold back such innovation.
Ofgem is today calling for energy stakeholders to provide evidence on any barriers to innovation and share their views about whether the ‘supplier hub’ model needs to be reformed.
Dermot Nolan, chief executive of Ofgem, spoke about this in his speech to the annual Energy UK conference last month. See his blog published today for more detail.
Ofgem will set out next steps in the spring.
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