Ofgem’s Response to Energy and Climate Change Committee Report
23 Feb 2015 03:30 PM
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.