BEIS and Ofgem seek views on vision for future energy retail market

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.