Ofgem’s Response to Energy and Climate Change Committee Report
Ofgem notes the committee’s views and welcomes debate on the regulation of the energy network and believes our regulation has delivered value for money. Britain’s energy network is 17% cheaper in real terms than 25 years ago, £80 billion of investment has been secured, and reliability has improved by 30%.
We are in the process of implementing a number of the actions the report highlights, including introducing more competition to networks and looking to increase the notification period of network charges. Additionally, we estimate that our innovation stimulus will see companies realise around £900 million of benefits to consumers in the next eight years.
For more information on network costs see our infographic and video.
- How the energy network works for you
- What our electricity distribution price control, RIIO-ED1, means for you
Latest News from
£60 million savings on new Hinkley Point C grid link22/05/2020 12:15:00
Energy regulator Ofgem has confirmed its decision to cut the proposed cost of the Hinkley-Seabank project by £60m, saving consumers money on their bills.
Ofgem approves 600MW Shetland transmission link24/04/2020 10:15:00
Ofgem has approved a proposal by Scottish and Southern Electricity Networks (SSEN) to build a 600MW subsea electricity transmission link from Shetland to mainland Scotland.
Ofgem requires InterGen to pay £37m over energy market abuse16/04/2020 10:15:00
From 25 March we temporarily paused the publishing of new information on our website, with the exception of legally required releases only. The information that follows falls within this category.
Ofgem appoints Bulb to take on customers of Gnergy Ltd23/03/2020 13:15:00
Ofgem has appointed Bulb to take on supplying Gnergy Limited’s 9,000 domestic customers and small number of non-domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for customers.
Ofgem protects customers of failed supplier Gnergy Ltd19/03/2020 12:15:00
Gnergy Ltd, a gas and electricity supplier with around 9,000 domestic customers and a small number of non-domestic customers is ceasing to trade.
Ofgem issues five suppliers with final orders to become DCC users09/03/2020 13:15:00
Ofgem has issued final orders to five suppliers, which ban them from taking on new customers until they become Data Communications Company (DCC) users.
Myriam Madden appointed as Ofgem Non-Executive Director25/02/2020 15:32:00
Myriam Madden confirmed as Non-Executive Director and Chair of the Audit Committee at the Office of Gas and Electricity Markets (Ofgem).
Investigation into Western Power Distribution’s priority service register obligations21/02/2020 10:15:00
Ofgem yesterday launched an investigation into whether Western Power Distribution (WPD) is in compliance with rules around updating and providing information to vulnerable customers on its Priority Services Register.