Source · Select Committees · Business and Trade Committee
Recommendation 4
4
Not Addressed
Paragraph: 37
We recommend that Ofgem implements the recommendations of the Oxera report in full to ensure...
Recommendation
We recommend that Ofgem implements the recommendations of the Oxera report in full to ensure that it has the proper frameworks for defining consumer interests and competition. We call on Ofgem to carry out rigorous quantitative impact analysis to underpin regulatory reforms and to make these publicly available for scrutiny. Ofgem must take urgent steps to improve the quality of its governance and the effectiveness of its Board by proactively challenging decisions made within the organisation, ensuring it has the necessary information and sufficient time to vigorously deliberate issues and make evidence-based decisions.
Government Response Summary
The response outlines the contents of a report to the Committee, not the specific actions recommended regarding Ofgem's frameworks, impact analysis, governance, and Board effectiveness.
Paragraph Reference:
37
Government Response
Not Addressed
HM Government
Not Addressed
The report to the Committee will include as a minimum: the measures in place to ensure effective accountability and transparency; key decisions, performance issues, and relevant policy concerns; a breakdown of the allocation of Ofgem resources; and a summary of the compliance and enforcement action taken in response to rule breaking by energy suppliers.