A new service to support businesses that offer innovative products and services to the energy industry has been launched.
Ofgem’s ‘Innovation Link’ will provide “fast, frank feedback” to innovators and help them make more informed choices when developing their products, services and business models.
The regulator believes the number of new players in the market is set to increase dramatically as the energy system transforms and they may not be familiar with market rules or where to go for help.
The ‘one stop shop’ is available to anyone with an innovative business proposition that has the potential to benefit customers.
Charlie Quigley from Youtility, a new entrant in the sector added:“The Innovation Link service will make a real difference to those who are enthusiastic to bring new and dynamic ideas to the energy landscape but need support in navigating the regulatory framework.
“The Link has so far provided us with a great deal of useful information and we believe it will continue to offer much needed assistance to innovators in the future.”
Ofgem is also considering options for a “regulatory sandbox” to enable new products or services to be trialled “without incurring all of the normal regulation”.
In early 2017, it will roll-out a programme of practical support to help innovators get started in understanding the regulatory framework.