Business Energy Market Review Findings and ConsultationOfgem requests information on the current business energy market
Call for input regarding its concerns
This July, Ofgem published its findings and policy consultation for its non-domestic market review which sought views on business energy market supplier pricing and contract prices, market competition and customer service, and opportunities for targeted support to specific customer groups.
In the consultation, Ofgem outlined its current actions, including addressing deemed contract rates and the Energy Bill Relief Scheme (EBRS), security deposits, fixed price contracts, and tenant/occupier transfers.
Additionally, it proposed changes to customer complaint regulations, conduct standards, transparency, deemed tariffs, and third-party intermediary (TPI) dispute resolution.
Furthermore, Ofgem recommended government actions such as enhancing TPI regulation, expanding Energy Ombudsman access, and ensuring domestic consumers on non-domestic contracts are protected.
The actions outlined by Ofgem are a result of the findings from its February 2023 call for input, and provide insight into the strategy it will take forward for creating a business energy market that offers consumers greater service, fair pricing, and access to resources required for the transition to net zero.
Ofgem is seeking feedback on its proposed policy changes until 6 September 2023. After reviewing the feedback, the regulator plans to publish its decision in autumn 2023.
About Catalyst
Catalyst Digital Energy is an award-winning energy consultancy with a focus on digital energy services, total energy contract lifecycle management and energy management services. It is revolutionising how businesses manage energy with its unique Energy Spend Management Platform, which is powered by Robotic Process Automation (RPA) EaaSi®.
Catalyst is digitising all aspects of energy, including billing, data, consumption, spend, payments, procurement and emissions reporting. When combined with its fully funded renewable energy solutions, Catalyst offers a unique and powerful approach to managing energy.
