Ofgem provides insight into future of retail market regulation
At an Energy Supplier Forum on 13 April, the regulator informed industry representatives of its initial views on responses to its consultation on the future of retail market regulation. Ofgem published the slides it presented at the event on Thursday 21 April, revealing that respondents had been broadly supportive of making the Standards of Conduct the centrepiece for principles-based regulation. Participants were particularly keen for the changes to the Retail Market Review tariff rules to be clarified, and for a roadmap of impending changes to be provided so they could prepare for the changes. Ofgem also said it wanted to increase the clarity, transparency and visibility of its guidance; a view echoed by stakeholders who expressed concerns that it could become “prescription through the back door”.