Today Ofgem has launched its annual State of the Energy Market report. This gives a detailed assessment of how well the energy market is working for consumers in terms of competition, affordability, decarbonisation, and security of supply.
Energy markets are rapidly transforming to meet our need for clean, secure, affordable energy and changing patterns of consumption. The pace and scale of change is unlike anything ever seen before in the sector.
Ofgem’s report focusses on four areas to understand how well the market is working in the interests of consumers.
Ofgem’s CEO, Dermot Nolan comments: “Energy is an essential service and so we want to ensure that the markets work in the interest of all consumers. Transparency is crucial in informing debate and policy development in the energy sector. This annual report shines a light for the public, experts and stakeholders on where the market is, and where it isn’t, working for consumers.
“It is also a report for us, Ofgem. It will help inform the way we regulate, to protect consumers now and in the future.”
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Ofgem is the independent energy regulator for Great Britain. Its priority is to make a positive difference for consumers by promoting competition in the energy markets and regulating networks.
For facts, figures and information about Ofgem’s work, see Energy facts and figures or visit the Ofgem Data Portal.
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