Union demands net zero energy regulator to replace Ofgem

Prospect has also proposed the creation of a Net Zero Energy Agency to address obstacles in achieving net zero goals and has advocated for a public energy company

Energy union Prospect has called for the abolition of Ofgem and the establishment of a net zero energy regulator to ensure consumer protection and drive the transition to clean energy.

In their newly published report, titled “Delivering clean power: a mission for the energy system,” the union argues that Ofgem is “not fit for purpose” and has failed to adequately protect consumers from unfair practices, prevent supplier insolvencies, or stimulate sufficient investment in achieving net zero emissions.

The report highlights the need for the proposed net zero energy regulator to focus on consumer protection and economic regulation.

It also recommends the creation of a Net Zero Energy Agency, which would be responsible for removing barriers to achieving net zero, including issues related to planning, investment and workforce.

These proposed entities would work alongside a public energy generation company, aimed at expediting the deployment of domestically produced, low carbon energy sources.

An Ofgem spokesperson told ELN: “We’re getting on with the job building a net zero economy and decarbonised power system; securing energy security and independence; and protecting consumers from volatile gas prices. We’re setting up an independent strategic planning body for the energy system.

“We’ve approved an initial £20 billion to accelerate windfarm infrastructure – and are now extending it across all power generation. We’re speeding up new low carbon power projects joining the national grid. And we’re creating the dynamic, flexible market needed for the mass adoption of electric storage, transport and heating.”

ELN has reached out to the Department for Energy Security and Net Zero for comment.

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