The energy industry’s codes and regulations must fundamentally change.
He said the changing role of suppliers was increasingly becoming a challenge, as different business models in operation across the sector means existing codes may no longer be fit for purpose in all cases.
Mr Goody advised regulations must take account of that and of the risks businesses suddenly failing could pose to the wider sector.
The CEO advised a good way to resolve this issue would be to implement different rules for different suppliers.
Mr Goody also stressed cybersecurity measures must be fit for purpose to protect consumers, businesses and the wider energy sector.