25 July 2019
Consultation seeking views on BEIS vision for future of the energy retail markets, including key opportunities and challenges
In November 2018, the Department for Business, Energy & Industrial Strategy (BEIS) and Ofgem launched a joint review to investigate what policy, legal and regulatory changes might be needed to ensure that the energy retail market is fit for the future.
The review aims to enable consumers to take advantage of the increased flexibility and lower costs of a smart, low-carbon energy system whilst appropriately safeguarding all consumers. It also supports delivery of the government’s commitment to fully decarbonising the energy system with net zero emissions across the whole economy. It is vital that the energy retail market is flexible and agile enough to keep up with this transition and deliver benefits for all consumers.
This consultation sets out a vision for the future energy retail market, the key challenges which need to be addressed and the outcomes the energy retail market can deliver. It includes:
- how the regulatory framework could be changed to facilitate the launch of products and services that may be frustrated today, and which support decarbonisation
- market distortions and where implementing reforms could improve the functioning of the retail as a dynamic and competitive sector
- how the retail market can deliver a good deal for all consumers, as they should not face excessive prices and should receive a good level of service
The consultation closes at 11:45pm on 16 September 2019.