OFGEM
From SR
Aims
Ofgem, The Office of Gas and Electricity Markets, has a principle role of protecting consumers. This is done by promoting competition, wherever appropriate, and regulating the monopoly companies which run the gas and electricity networks.
Other priorities and influences include:
- Helping to secure Britain’s energy supplies by promoting competitive gas and electricity markets - and regulating them so that there is adequate investment in the networks
- Contributing to the drive to curb climate change and other work aimed at sustainable development by, for example:
- Helping the gas and electricity industries to achieve environmental improvements as efficiently as possible
- Taking account of the needs of vulnerable customers, particularly older people, those with disabilities and those on low incomes
Structure
Ofgem is governed by an Authority, consisting of non-executive and executive members and a non-executive chair. Non-executive members bring experience and expertise from a range of areas including industry, social policy, environmental work, finance and Europe. The Executive members of the Authority are Ofgem’s Chief Executive and three Managing Directors.
The Authority determines strategy, sets policy priorities and takes decisions on a range of matters, including price controls and enforcement. The Authority's powers are provided for under the Gas Act 1986, the Electricity Act 1989, the Utilities Act 2000, the Competition Act 1998 and the Enterprise Act 2002.
