LSE Public Sector and Policy Fair - Thursday 6th November - 6.30pm - 8.30pm
Cambridge Careers in Economics Fair - Wednesday 12th November – 1pm – 3pm
Who We Are
Ofgem is the regulator of the UK's gas and electricity industries which occupy a central position in the UK economy, contributing substantially to GDP, and have been valued at close to £100 billion. They provide essential services for domestic industrial and commercial gas and electricity customers.
Ofgem's principal objective is to protect the interests of consumers, present and future, wherever appropriate by promoting effective competition.
Our People
We employ around 300 staff, the majority of whom are based at our head office in Westminster. We also have a small office in Glasgow.
Together we have created a successful organisation that takes great pride in its work. We believe in and operate on the basis of four core values: transparency, professionalism, respect and integrity.
Our Work
Our work is divided into four distinct areas:
Markets – Trading Arrangements monitor and develop the conditions for transparent efficient trading and effective competition in the wholesale & retail gas & electricity markets and consider the impact of distrusted energy and competition in metering.
European Strategy & Environment seek to promote the development of European energy policies in ways which maximise consumer benefit through competition. ESE seek to ensure that environmental impacts, such as carbon reduction, sustainable energy supplies and energy efficiency, are fully integrated into all Ofgem's policies.
Networks - Transmission and Distribution set price controls on transmission and distribution companies, adopting incentive based regulation and using an RPI-X formula. The approach considers efficiency, reliability, safety and quality of service and innovation funding to encourage research & development investment in new technology.
RPI-20 has undertaken a two year review of the RPI-X formula of price control to ascertain whether it is still fit for purpose and flexible enough to respond to the investment challenges facing the network companies after 20 years of operation.
Corporate Affairs – Governance, Consumer & Social Affairs engage with the priorities of domestic customers, developing the social action strategy to protect the interests of vulnerable customers and ensure fair access to choices in the competitive market. They also provide the interface with Consumer Focus (formerly energywatch), dealing with individual consumer complaints when these are escalated.
Industry Codes and Licensing maintain the various industry codes and charging methodology governance procedures, along with the licenses under which electricity and gas companies operate, and take any action deemed necessary if they do not comply.
Communications are responsible for all Ofgem's corporate communications and press activity.
Operations and Regulatory Services – Sitting alongside Operations - HR, Finance, Procurement and Information Management - Regulatory Services deals with the administration of environmental programmes and the offshore transmission programme. Ofgem administers a number of environmental programmes on behalf of other government departments as part of the climate change programme. Ofgem is also implementing an offshore electricity transmission licensing and regulatory regime and will run competitive tendering processes to select offshore transmission owners who will be licensed to design, build, finance and maintain the transmission networks required to connect each offshore generator.
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