Flexible and responsive energy retail markets
As part of the Future energy market review, we’re seeking views on our vision for future of the energy retail markets, including key opportunities and challenges.
In November 2018, BEIS and Ofgem launched a joint review to investigate what policy, legal and regulatory changes might be needed to ensure that the energy retail market is fit for the future.
The review aims to enable consumers to take advantage of the increased flexibility and lower costs of a smart, low-carbon energy system whilst appropriately safeguarding all consumers. It also supports delivery of the government’s commitment to fully decarbonising the energy system with net zero emissions across the whole economy. It is vital that the energy retail market is flexible and agile enough to keep up with this transition and deliver benefits for all consumers.
This consultation sets out our vision for the future energy retail market, the key challenges we need to address and the outcomes we want the energy retail market to deliver. It includes:
- how the regulatory framework could be changed to facilitate the launch of products and services that may be frustrated today, and which support decarbonisation
- market distortions and where implementing reforms could improve the functioning of the retail as a dynamic and competitive sector
- how the retail market can deliver a good deal for all consumers, as they should not face excessive prices and should receive a good level of service
The consultation will be of interest to:
- individual energy supply and network companies
- energy industry representatives
- third party intermediaries in energy and/or other sectors
- consumer and environmental groups
- innovators
but any organisation or individual is welcome to respond.
Please copy your responses to both BEIS and OfgemWe would be grateful if you could copy your responses to both bodies:
Energy Markets and Affordability Team
Department for Business, Energy and Industrial Strategy
Abbey 1, 3rd Floor,
1 Victoria Street
London
SW1H 0ET
Email: energyretailmarketsreview@beis.gov.uk
Future Retail Market Design Team
Ofgem
Office of Gas and Electricity Markets
10 South Colonnade
Canary Wharf
London, E14 4PU
Email: futuresupply@ofgem.gov.uk