Ofgem welcomes regulator review

A major review of energy regulator Ofgem has been launched to provide stronger protections for businesses and households and improve customer service.

The Government said the significant rise in energy costs in 2022, and the supplier failures that resulted from it, damaged confidence and “exposed that the regulator is no longer fully equipped to protect consumers in today’s market”.

“The review will ensure Ofgem is equipped to address these unacceptable outcomes for consumers, including the ability to order companies that are guilty of wrongdoing to refund or compensate customers directly,” it said.

“The review will also consider how Ofgem can better drive the government’s missions for clean power and economic growth.”

Jonathan Brearley, Ofgem Chief Executive, said the review is a “great opportunity” to ensure the regulator protects customers, drives up standards, and empowers the market to innovate and produce renewable energy for a low carbon future.