Our latest webinar looked back at the decisions made under Ofgem’s financial resilience plan. This included strengthening milestone assessments and introducing additional reporting requirements.
It also decided on the short-term interventions to help mitigate the risks to customers as a result of the current wholesale volatility. This included the Market Stabilisation Charge, which if triggered would require all domestic suppliers acquiring a customer to make a payment to the supplier that is losing the customer. We delve deeper into this topic in a recent blog.
Additionally, we looked at the second short-term intervention, the temporary ban on acquisition-only tariffs, as well as updates to the financial responsibility and operational capability principles.
The webinar, which you can listen to here, also discussed:
- the next steps of Ofgem’s financial resilience action plan.
- the progress of the Faster Switching Programme
- the progress of the Market-wide Half-Hourly Settlement
- the Energy Bill Support Scheme
- the changes to the price cap methodology
- the outcome of the Microbusiness Strategic Review
- the introduction of more smart metering benefits