Britain’s biggest business group, the CBI, is concerned that Ofgem is relying on an outdated policy mandate to regulate the industry and set price controls. It insists that the regulator’s statutory responsibilities must have climate action at its core or risk undermining the UK’s climate targets by scuppering future investment in renewable energy. Under its existing remit, Ofgem is required to keep the government’s climate policies in mind but its primary obligation is to protect the interests of energy consumers. The mandate has not been changed since 2011 after an update drafted within the Energy Act 2013 failed to materialise.
Edie 22nd July 2019 read more »