What is Ofgem
Ofgem (Office of Gas and Electricity Markets) is an energy regulation body for the United Kingdom.
Ofgem’s purpose is to effectively regulate the Big Six energy suppliers and the smaller, independent energy suppliers, primarily to ensure that these companies all act in the best interests of consumers - both domestic and business-based - while promoting competitiveness and simplicity in the gas and electricity markets.
Ofgem is governed by an authority consisting of non-executive and executive members. The body is funded by the energy companies who are licenced to run the gas and electricity infrastructure.
What areas does Ofgem cover?
If ever you have any issues with your energy supplier, or are looking for advice about your energy bill and how the process of paying for your energy supply works, then Ofgem is equipped to tend to these enquiries for you. They can also provide information on:
- Switching your energy supplier
- Making a complaint about your energy supplier
- How business energy contractors work
- Generating renewable energy.
What does Ofgem do for energy efficiency and the environment?
As well as helping to ensure a fair and competitive energy market for UK consumers, Ofgem is also involved in a number of energy efficiency initiatives designed to encourage environmental friendliness and energy efficiency across the UK.
Ofgem is committed to helping more and more UK households switch to renewable energy systems, and run several programmes which are designed to offer low income households access to energy efficient materials, such as loft insulation, for their homes, in a bid to reduce consumer energy bills and make the UK a more eco-friendly country.
It's also important for business owners to do their bit for the environment. Check out The Business Efficiency Index over at Bionic to find some useful energy efficiency tips and ways to overcome the challenges that face businesses who are looking to go green.
What is the Ofgem energy price cap?
The energy price cap set a limit on the rates energy suppliers can charge on standard variable rate and prepayment energy tariffs. Introduced by the UK government, the limit is set and reviewed every six months by Ofgem. To find out more, go to our energy price cap guide.
What is the Ofgem Confidence Code?
The Ofgem Confidence Code is a code of practice designed to govern independent energy comparison sites. The regulator accredits this energy code of practice to sites, who must then adhere to key principles when comparing suppliers and presenting the energy comparison results to the public. Find out more at our guide to the Ofgem Confidence Code.
How to find out more about Ofgem
If you would like to find out more about Ofgem, its programmes and all the latest news on the energy industry, visit their website at: www.ofgem.gov.uk.
To contact Ofgem with any queries you may have, you can get in touch with them here: www.ofgem.gov.uk/contact-us.