Policy and regulation
To maximise the profitability of your business, and to inform your strategic and operational decisions it is crucial that the information on which you are basing your conclusions is independent, accurate, and up to date.
Through our unique combination of deep industry knowledge and practical experience, Cornwall can help you keep up to date with the latest market developments and help you understand their impact on your business.
The risks and opportunities associated with the ever changing regulatory environment can be difficult to monitor and evaluate while focusing on core business, but the implications of failing to do so can be significant. To overcome this, we offer a range of services to help you keep up to date, explore specific business opportunities and mitigate against risk:
- Energy Supplier Compliance service– understanding your obligations as an energy supplier can be a bit like navigating a minefield with the risks of getting it wrong just as significant. The Energy Supplier Compliance service is an invaluable fact file of information to refer to on supply activities. It sets out the current and upcoming requirements you face as a supplier throughout the customer journey in an easy to understand format with links to Ofgem guidance and best practice.
- Policy and Regulation Consultations Register– keeping track of consultations impacting energy markets can be time consuming, but missing something can result in significant impacts for your business. The Policy and Regulation Consultations Register gives an overview of all open consultations, provides a grading of the likely impacts and details which business type are most likely to be impacted. This will help save you resources to focus on your core business, while providing you with the reassurance that nothing is being missed.
- Modifications Registers– keeping track of code modifications and understanding the potential impact for your business can be time consuming, but missing something can bring about significant challenges and risks for your organisation. The Modifications Registers (covering electricity and gas separately) provide a comprehensive, independent and plain-English update and review alerting you to the most critical governance issues affecting the market - and potentially your business.
- Monthly Regulation Reports – understanding which political, regulatory and governance changes will impact your business and actions you need to take to mitigate risk requires a deep knowledge of the market. Designed to your individual specification, the Monthly Regulation Reports (covering electricity and gas separately) will give you the tools to understand what the implications of regulatory change might be for your business - and prevent any unpleasant surprises from this constantly changing space - freeing up resource to focus on your core business objectives and helping you prepare for upcoming changes.
- Weekly Customer Impact Reports – understanding the impact of regulatory and governance changes and how these will impact your business can be difficult. The Weekly Customer Impact Reports (covering electricity and gas separately) provide you with tailored advice on the likely impact of changes to processes, commercials or systems, giving you the tools to understand what the implications of changes might be for your business - and what actions you might need to mitigate risks and prepare for future challenges.
- Industry Meeting Reports– attending industry meetings gives you an indication of the direction of travel of industry changes and can help you plan ahead for future challenges, but this also involves a significant time, and resource, commitment from your organisation. Our Meeting Reports (covering electricity and gas separately) provide you with an overview of themes, topics and decisions arising from key industry meetings, ensuring that you are up to date on developments in the sector, that important issues are not over-looked and helping you stay ahead and anticipate future changes.
- Alerts– identifying which policies, consultations and change proposals are of key importance to your business and ensuring that your staff understand potential impacts and how to communicate change to your customers can be a challenge. The Alerts service provides a detailed but easy to understand overview of a key industry development that your staff should be aware of. Alerts are produced as a direct response to significant consultations or discussions that impact on markets. Each alert provides the background on the issue, detail on the proposals being presented, likely next steps, and links to further information, ensuring nothing is missed and that you have the information needed to inform your wider team.
- Regulation and Compliance Support Service– Sometimes talking an issue through helps increase clarity and re-enforces understanding of an issue. The Regulation and Compliance Support Service provides you with a named contact within Cornwall who will be available to answer questions related to regulation, compliance and governance, giving you access to experts when you need it most.
- Consultancy support– whether you are developing market-entry strategies or you need independent advice to inform your strategy or business plan, you can depend on Cornwall. Selected for our unparalleled depth of sector expertise, commercial know-how and experience, we have helped a broad range of clients tackle their toughest challenges.
- Training and events– our trainers aren’t just experts in their field, they bring information to life. Our courses are designed to support the development of individuals and improve their knowledge of GB energy and water markets.