Highlights from our Energy Supplier Compliance webinar

As part of our Energy supplier compliance portal service, we run a webinar every 6 months which looks at key updates.   

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

Related thinking

Regulation and policy

One-hit wonder? Assessing the government’s business support scheme

Subsidising the unprecedented cost of energy for both households and businesses came in at the forefront of the Chancellor of the Exchequer, Kwasi Kwarteng’s “mini-budget” last Friday. Described as “one of the biggest interventions ever made”, Kwarteng confirmed a three-step plan. Firstly, as announced on 8 September, the introduction of...

Low carbon generation

MCS Charitable Foundation – Hydrogen Costs

MCS Charitable Foundation (“MCS”) in its charity goal of decarbonising homes, heat and energy has commissioned us to calculate the costs of blue and green hydrogen, based on current and projected gas prices. This report sets out our methodology for this forecast, and our findings in terms of delivered prices...

Energy storage and flexibility

Electricity network reform: where are we now?

In its Energy Security Strategy (ESS), the UK government set out ambitions for 95% of electricity to be sourced from low carbon generation by 2030 and for the UK to have a fully decarbonised electricity system by 2035. In order to accommodate this ambition, the electricity network will need to...

Business supply and services

Our initial response to the government energy announcement

We welcome the government’s objective to address the affordability of energy for both domestic and business consumers in the UK. The policy announcements made today will alleviate some of the hardship consumers have been concerned about for many months.   On the household side of the equation, industry thinking is...

Low carbon generation

Energy System Reform: Ofgem shares plans for Britain’s energy system

Against the backdrop of record high and volatile energy prices, Ofgem set out on 8 July its view on key aspects of the GB energy system where it considers significant reform is required to deliver a resilient, low cost, low carbon energy sector. Recent developments in the energy market, such...

Regulation and policy

The changing compliance landscape

In recent months, Ofgem has been increasing its engagement with suppliers to ensure compliance with their supply licences and to deliver more resilient business models. This has been evidenced through a number of actions, such as stress testing suppliers and introducing additional reporting requirements, under the scope of the regulator’s...

Energy storage and flexibility

National Grid ESO’s ‘early view’ winter report 2022/23

We have published an alert on National Grid Electricity System Operator's Winter 2022/23 early view report.  The ESO considers that it is important for industry to be provided with a rough understanding of the situation to come, through the early view report. It is operating under the assumption that the peak...

Energy storage and flexibility

National Grid ESO’s ‘early view’ winter report 2022/23

We have published an alert on National Grid Electricity System Operator's Winter 2022/23 early view report.  The ESO considers that it is important for industry to be provided with a rough understanding of the situation to come, through the early view report. It is operating under the assumption that the peak...