Ofgem research claims that their proposed reforms will be welcomed by the consumer. The research looked at three factors: how consumers would behave when faced with a standing charge set by Ofgem (a daily price with energy used paid extra); a single unit rate (the same price for peak and off-peak) and comparison information in […]

Electricity and gas markets regulator Ofgem will implement tough new measures to reform the energy markets to help smaller businesses. After investigating the markets in March over claims of unfair pricing from power firms, the regulator threatened to auction up to a fifth of the current market share to new producers of energy. Chief Executive […]

Ofgem’s chief declared he is “optimistic” about the future for consumers at the House of Commons yesterday. The energy watchdog’s head Alistair Buchanan told MPs on the Energy Select Committee that the industry has experienced a real “wake-up call” in the last couple of months. The comments come amid government plans for the biggest market […]

DECC has asked regulator Ofgem to look into whether further action is needed to ensure that medium- to long-term gas supplies for consumers remain secure. The news comes after DECC reported to Parliament on the risks facing the UK over security of supply as much of our old plant is due to come offline in […]

Regulator Ofgem has announced sweeping reforms of the energy market after revealing the profit margins of the energy firms have risen to £125 per customer per year, from £15 in June. Ofgem’s latest report on prices shows that the average dual fuel bill now stands at £1,345. Ofgem’s Chief Executive Alistair Buchanan said: “When consumers […]

The chief of British Gas-owner Centrica has made a subtle dig at the regulator for changes to the energy market. At the Economist’s UK Energy Summit yesterday, CEO Sam Laidlaw criticised regulators without explicitly naming the UK energy watchdog. He said: “Consumers are being given the misleading impression that – if only the market was […]

Energy regulator Ofgem showed its commitment to a market shakedown by confirming it would look into a “potentially misleading” claim by Scottish Power that consumers could save money, despite recently raising its prices. The energy giant had advertised a £459 savings claim from its ‘Direct October 2012′ offer. Earlier this month, however, they introduced record-breaking […]

Energy Secretary Chris Huhne today gave the regulator his backing for its intended market reforms. Earlier today Ofgem’s Chief Executive Alistair Buchanan said that the energy companies were letting down their customers with highly-priced, confusing tariffs. Mr Huhne said: “I wholeheartedly welcome the regulator Ofgem’s announcements today. With households and businesses facing rising energy prices, […]

Ofgem went on the offensive today by claiming it would press ahead with an overhaul of the retail energy market in light of recent price rises. Alistair Buchanan, Chief Executive at Ofgem, said: “Responses to our reforms show that there is increasing consensus across a range of consumer and business groups that in a period […]

Ofgem boss Alistair Buchanan is to be put in the hot seat by the government next week. The chief executive will give evidence to a one-off session of the Energy and Climate Change Committee next Tuesday, in which he will answer questions on gas and electricity prices, competition in UK energy markets, the government’s Electricity […]