Ofgem


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Related to Ofgem: Ofwat, Ofcom, DECC

Ofgem

(ˈɒfˌdʒɛm)
(in Britain) n, acronym for
(Commerce) Office of Gas and Electricity Markets: a government body formed in 1999 by the merger of the separate regulatory bodies for gas and electricity; its functions are to promote competition and protect consumers' interests
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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An Ofgem spokesman said yesterday: "All of Ofgem's pay awards, including non-consolidated performance-related bonuses, are set in accordance with Treasury guidance in the same way as for all civil servants.
This is unfair and the Government should step in and give the equal protection that Ofgem offers customers on the gas and electric network".
They are being trialled by Ofgem in around 23,000 homes across the UK, with the testing due to finish in 2010.
"Ofgem will strike a tough, fair settlement with companies which enables them to go further in decarbonising the economy and ensures that costs are kept as low as possible for consumers paying for the required investment," said Jonathan Brearley, executive director for systems and networks at Ofgem.
"The electricity distribution networks are fundamental to the transition to a low-carbon economy and to hitting the target of net zero emissions in the UK by 2050," Ofgem said in its statement Tuesday.
It is the second time Ofgem has warned Solarplicity for not paying the so-called feed-in-tariff (Fit) to generators.
"We are committed to meeting the expectations of every single Solarplicity customer, but Ofgem's decision, which was made on old historical data, disregards the vast improvements that we have made to our customer service," a Solarplicity spokeswoman told the Mirror.
Yet while households are left reeling, it has emerged that taxpayerfunded Ofgem has dished out PS1.7million in staff bonuses since 2017.
Ofgem will now choose a new supplier to take on Economy Energy's customers as quickly as possible.
But Ofgem warned it was "likely" to announce an increase in February if wholesale costs keep rising, to take effect in April.
"Ofgem is closely monitoring suppliers' approach to the rollout of smart meters and will hold suppliers to account if they do not meet their obligations," the regulator said.