Energy Watchdog Delivers Greater Consumer Innovation

Awareness of environmental issues and the difference we as individuals can make to help protect our planet is increasing day by day. Even energy companies are now changing the way they operate so that the impact they have on global warming can be reduced.

However, rules and regulations that govern energy companies have, up to this point, been failing to help with this enormous task – until now.

Earlier this year, the energy watchdog Ofgem published details of its so-called Supply Licence Review, which it says will help open up the market and allow both greater innovation as well as fresh opportunities to existing and new electric and gas suppliers.

One of the biggest changes is that of ending the “28-day rule”, which prevented energy providers from tying in customers for longer than four weeks after joining. By lifting this rule Ofgem is opening up the market to other suppliers who, up until now have found it difficult to build in long-term deals that may include energy-saving measures.

Other innovations that are part of Ofgem’s wide-ranging review include:

• Simplifying its other rules and halving the number of licence conditions, to open the way for new suppliers entering the market

• Allowing suppliers to offer remote “smart meters” that can help consumers cut their energy consumption

• Allow greater access to information on carbon monoxide risks to more vulnerable customers

More: continued here