|Printable version||E-mail this to a friend|
OFGEM SETS OUT ROAD MAP TO OPEN UP ELECTRICITY MARKET FOR INDEPENDENT SUPPLIERS
Energy regulator Ofgem has today set out a detailed road map to open up the wholesale electricity market by setting out three clear objectives which the Big Six suppliers will have to meet. This is to enhance competition and will ensure independent suppliers can buy wholesale power in the range of products they need more easily. The objectives are:
1) Availability of a range of products which support hedging
2) Robust reference prices showing how much power would cost in forward markets
3) Effective short/near term market
Latest News from
The Big Six act on Ofgem's challenge to repay money held in closed accounts10/09/2014 16:05:00
Dermot Nolan, Ofgem Chief Executive, said: “Today’s industry announcement is an encouraging first step by the six largest energy companies to address Ofgem’s call to reunite customers with their cash. It is good news for consumers and if you think you could be owed money we recommend that you contact your previous supplier.
Ofgem set targets achieve first step in npower customer service improvements03/09/2014 15:54:58
Sarah Harrison, senior partner in charge of enforcement said: “Ofgem is encouraged to see that npower has met our targets aimed at reducing late bills and we note their progress on reducing complaint numbers. But this is only a first step to turning round their customer service and billing performance. We will monitor their progress and continue our investigation into the reasons why npower’s problems occurred.”
Ofgem publishes latest estimates of costs and revenues for a typical large energy supplier29/08/2014 11:05:00
Ofgem has published its latest monthly projection of costs and revenues for a typical large energy supplier over the coming 12 months.