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Flexible and responsive energy retail markets

In November 2018, the Department for Business, Energy and Industrial Strategy and Ofgem launched a joint review to investigate what policy, legal and regulatory changes might be needed to ensure that the energy retail market is fit for the future.

The review aims to enable consumers to take advantage of the increased flexibility and lower costs of a smart, low-carbon energy system whilst appropriately safeguarding all consumers. It also supports delivery of the government’s commitment to fully decarbonising the energy system with net zero emissions across the whole economy. It is vital that the energy retail market is flexible and agile enough to keep up with this transition and deliver benefits for all consumers.

It includes:

  • how the regulatory framework could be changed to facilitate the launch of products and services that may be frustrated today, and which support decarbonisation
  • market distortions and where implementing reforms could improve the functioning of the retail as a dynamic and competitive sector
  • how the retail market can deliver a good deal for all consumers, as they should not face excessive prices and should receive a good level of service

The Institution of Engineering and Technology Trustees propose submitting a response to this consultation and invite comments from Members who have expertise in this area and have studied the consultation documents. In its capacity as a professional body, the IET will confine itself to only addressing those questions that are within its area(s) of competence.

For more information and a summary of the questions, please refer to the consultation document.

Please respond no later than 6 September 2019 to James Robottom with “Flexible and responsive energy retail markets” in the subject header.