Ofgem
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UK Regulators Network (UKRN) publishes report on affordability
- Report covers regulated sectors of water, energy and communications
- Report looks at the drivers of affordability issues across industries and the approach taken in different regulated sectors
- UKRN members to work closer together to address financial vulnerability
A new report by the UK Regulators Network (UKRN) has been launched yesterday to better understand affordability pressures across regulated sectors.
The report focuses on the energy, communications and water sectors. On average, energy and communications household spend is at 5%1 and 4%2of total household spend, respectively. In water, 1.4%3 of household income is going towards paying for this service. The report considers:
- How affordability issues are approached in different regulated sectors.
- What data gathered from regulators and other sources show about the nature of affordability issues in these sectors.
- The drivers of affordability issues and the role of regulators in addressing these issues.
Work will now begin on the second phase report which will consider how to address vulnerability across regulators. It will also look at what could impact bills in the future, particularly as a result of infrastructure investment. UKRN members will work closer than ever to tackle some of the issues identified in the report and align their work to support vulnerable consumers.
Notes to editors
- UKRN is a network of UK regulators established to share experience and best practice across a variety of industries. Members include the Civil Aviation Authority (CAA), the Financial Conduct Authority (FCA) and Payment Services Regulator (PSR), Office of Communications (Ofcom), the Office of Gas and Electricity Markets (Ofgem), Office of Water Regulation (Ofwat), the Office of Rail Regulation (ORR) and the Northern Ireland Authority for Utility Regulation (UREGNI). Monitor, the sector regulator for health, participates in the network and its projects as appropriate. The Water Industry Commission for Scotland (WICS) and Legal Services Board (LSB) are contributing members which generally participate in projects as observers.
- Without cutting across the independence or specific goals of each regulator, UKRN will strengthen work across sectors. It will explain and take account of the differences between sectors, while maximising coherence and shared approaches in the interests of consumers and the economy.
- View the UKRN affordability report.
- More information can be found on the UKRN Website.
1 Ofgem calculations based on data sourced from ONS Family Spending, 2013 Edition, ;
2 Ofcom, Communications Market Report 2014, .
3 Ofwat calculations based on Households below Average Income (HBAI) data sourced from the Family Resources Survey, .
For further information, please contact:
Dafydd Wyn: 0203 263 9943
Out of hours media contact number: 07766 511470
