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Ofgem
The Office of Gas and Electricity Markets (Ofgem) is the government regulator for the electricity and downstream natural gas markets in Great Britain. It was formed by the merger of the Office of Electricity Regulation (OFFER) and Office of Gas Supply (Ofgas).
Ofgem's governing body is the Gas and Electricity Markets Authority (GEMA), which is also referred to as the Ofgem board.
The authority's powers and duties are largely provided for in statute (such as the Gas Act 1986, the Electricity Act 1989, the Utilities Act 2000, the Competition Act 1998, the Enterprise Act 2002 and the Energy Act 2004, the Energy Act 2008 and the Energy Act 2010) as well as arising from directly effective European Union legislation. Duties and functions concerning gas are set out in the Gas Act and those relating to electricity are set out in the Electricity Act.
Its primary duty is to protect the interests of consumers, where possible by promoting competition.
The Authority‘s main objective is to protect existing and future consumers' interests in relation to gas conveyed through pipes and electricity conveyed by distribution or transmission systems. Consumers' interests are their interests taken as a whole, including their interests in the reduction of greenhouse gases and in the security of the supply of gas and electricity to them. Since 2010 the Authority has imposed nearly £100 million in fines and redress levies against energy suppliers, including a £12 million redress levy on E.ON in May 2014, and a £1 million redress levy on British Gas in July 2014.
The Gas and Electricity Markets Authority is governed by the Chairman Martin Cave, executive members as well as non-executive members.
Jonathan Brearley was appointed Chief Executive of Ofgem from February 2020.
The liberalisation and privatisation of the energy markets in the United Kingdom began with the Margaret Thatcher Government in the 1980s (often called the Thatcher-Lawson agenda, due to the key role of Nigel Lawson in the Thatcher government cabinet). Aspects of the UK's model have been adopted by EU legislation.
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Ofgem
The Office of Gas and Electricity Markets (Ofgem) is the government regulator for the electricity and downstream natural gas markets in Great Britain. It was formed by the merger of the Office of Electricity Regulation (OFFER) and Office of Gas Supply (Ofgas).
Ofgem's governing body is the Gas and Electricity Markets Authority (GEMA), which is also referred to as the Ofgem board.
The authority's powers and duties are largely provided for in statute (such as the Gas Act 1986, the Electricity Act 1989, the Utilities Act 2000, the Competition Act 1998, the Enterprise Act 2002 and the Energy Act 2004, the Energy Act 2008 and the Energy Act 2010) as well as arising from directly effective European Union legislation. Duties and functions concerning gas are set out in the Gas Act and those relating to electricity are set out in the Electricity Act.
Its primary duty is to protect the interests of consumers, where possible by promoting competition.
The Authority‘s main objective is to protect existing and future consumers' interests in relation to gas conveyed through pipes and electricity conveyed by distribution or transmission systems. Consumers' interests are their interests taken as a whole, including their interests in the reduction of greenhouse gases and in the security of the supply of gas and electricity to them. Since 2010 the Authority has imposed nearly £100 million in fines and redress levies against energy suppliers, including a £12 million redress levy on E.ON in May 2014, and a £1 million redress levy on British Gas in July 2014.
The Gas and Electricity Markets Authority is governed by the Chairman Martin Cave, executive members as well as non-executive members.
Jonathan Brearley was appointed Chief Executive of Ofgem from February 2020.
The liberalisation and privatisation of the energy markets in the United Kingdom began with the Margaret Thatcher Government in the 1980s (often called the Thatcher-Lawson agenda, due to the key role of Nigel Lawson in the Thatcher government cabinet). Aspects of the UK's model have been adopted by EU legislation.