BEIS and Ofgem are looking at ways to make regulation more flexible, ensuring they can adapt to change quicker, with the launch of a new consultation.
Published on 22 July, the Flexible and Responsive Energy Retail Markets consultation described the vision of a future energy retail market as being one where “innovation brings greater choice to consumers, allowing them to take advantage of the increased flexibility and lower costs of a smart, low carbon energy system”. Five key outcomes are being targeted: wide choice of energy services; consistent consumer protection; minimal market distortions; competitive prices for all; and ensuring consumers in vulnerable situations receive services they need.
In a bid to overcome challenges to those outcomes, the consultation is seeking views on how more flexible routes to market for a wider range of innovative energy service providers that support decarbonisation might be created; how to better align policy and other regulatory obligations to improve the landscape for competition; and how the retail market can deliver a good deal for all consumers, noting that they should not face excessive prices and should receive a good level of service.
Responses are due by 16 September.
