Saturday 04th of February 2012

OFGEM

Posted on: January 6th, 2008 by admin

Website address  http://www.ofgem.gov.uk

All of the United Kingdom Gas and Electricity marketing companies are regulated by OFEM
The acronym stands for Office of Gas and Electric Markets.

Their brief is to look after consumer interests by promoting healthy competition wherever that is in the interest of the consumer.  British customers have been free to switch between suppliers since the energy market was opened to competition in 1998.

Since the 2004 Energy act OFGEM have also had a responsibility to promote sustainable development in the energy market.  These duties also include a responsibility to promote the reduction of carbon emissions and reduce Britain’s reliance on energy imports that might lead to undue political influence by reducing dependency on energy that is sourced from unstable political regimens.

As a government department free from commercial considerations they are particularly well placed to take a broader view in matters of competition, sustainability and environmental impact.

It is because of OFGEM that all UK energy suppliers are committed to promoting energy saving, renewable energy generation and the reduction of carbon emissions.
A key part of their remit is to oversee the energy transmission networks.  It is not viable to have competing companies running separate transmission grids, so it is important that any monopoly that might occur from having a single national grid is mitigated by regulation.

The OFGEM website is a good place to look for generalised information about energy supply that is independent of commercial interest.

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