The functioning of the domestic retail energy market has been under scrutiny over a number of years, particularly in the context of rising energy bills. Late last year Ofgem made proposals, under its Retail Market Review, for far-reaching re-regulation of the retail market. These proposals were subject to criticism in subsequent consultation responses from a wide range of stakeholders, including large and small energy companies, academics and consumer representatives. The market has also evolved since the proposals were made, with a number of new initiatives from companies and from the government.
On 29 May Policy Exchange held a roundtable discussion on Retail Market Reform and the future shape of the domestic energy retail market. The discussion included experts from academia, large and small energy suppliers, consumer groups, government and the energy regulator. Professor Stephen Littlechild from the Judge Business School (former Director General of Electricity Supply from 1989 to 1998) and Ian Peters, Managing Director, Energy at British Gas gave opening remarks. The purpose of the event was to exchange latest views on the energy retail market and where to go next – to help inform public debate and Ofgem’s decisions on Retail Market Reform expected before winter.