“Promoting smarter energy markets”: IET comments to Ofgem.
The consultation from Ofgem is addresses innovation in retail energy market design which will be made possible by Smart Metering (such as time-of-day pricing.) It looks at the potential benefits for consumers and also the safeguards that will be required. While commending this timely action, the IET points out that there is also an opportunity for Ofgem to promote overall energy use reduction and efficiency through smarter markets and that an additional specific focus on this aspect would be useful. This should address all potential means to save energy, ranging from behavioural change through to improved insulation, low energy lighting and the full range of other techniques, and explore how these could be incentivised through smarter markets.
Submission Details Submitted on 06 March 2012 to Ofgem (Office of the Gas and Electricity Markets)