Ofgem strategic narrative: 2019-23

Publication date
11th July 2019
Information types
Policy areas

A major transformation is underway in the way energy is generated, used and purchased as the UK makes the transition to a low-carbon, smarter and decentralised system.

This document outlines our vision for the strategic medium-term objectives and priorities to help carry out our principal duty to ‘protect the interests of existing and future consumers’ in a rapidly changing energy sector.  

The document covers the period until 2023, when the price cap on default tariffs is due to end, and all energy networks are subject to our next price control, ‘RIIO-2’.

In delivering the vision, consumers and stakeholders can expect us to:

  • enable competition and innovation, which drive down prices and result in new products and services.
  • protect consumers, especially the vulnerable, by stamping out sharp practice and ensuring fair treatment.
  • facilitate decarbonisation efforts to deliver a net zero economy at the lowest costs to consumers.

Each year we will continue to publish our detailed Forward Work Plan for consultation, but this document provides the overall context for these plans. Given the pace of change in the energy industry, we expect to revise our strategy periodically during this period.

As an open organisation, we are keen to engage with others on how we can best meet the opportunities and challenges the future will bring. We welcome comments on this strategy, which should be sent to strategy@ofgem.gov.uk.