The U.K.'s Department for Business, Energy & Industrial Strategy and Ofgem have formally announced the "Future Energy Retail Market Review" process

"There is a growing consensus that a fundamental change to the design of the market is required for consumers to fully benefit from a smart, digital system. The Secretary of State therefore launched a joint review with Ofgem of the current retail market design. This will ensure that the energy retail market is fit for the future and delivers the benefits of clean, cheap power at zero subsidy to consumers. It will promote competition and drive innovation by allowing innovative business models to capture system benefits, including flexibility in consumers’ demand, while ensuring that all consumers receive a fair deal," the agencies said

"The review will consider specific questions regarding barriers to innovation, default supply arrangements for consumers that do not engage in the market and how to protect consumers regardless of how they access their energy supply," the agencies said

See more details here

Tags:
U.K.  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Head-of-Retail-Operations -- Wholesale Supplier/Trader -- Other
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
Retail Supplier Expands Program To Offer Power To Tesla Battery Customers '
FT: Mitsubishi-Backed Retail Supplier 'Prepares Bid' For International Retail Supplier With U.S. Arm
Shell Acquiring 250,000 Customers From U.K. Supplier;' Octopus Acquiring 580,000 Customers
UK Retail Supplier With US Affiliate In Talks To Secure 'New Funding'; Wholesale Prices Challenge
Centrica Enters Exclusive Collaboration Agreement With Data Center Provider To Offer Energy Solution