The regulatory powers of Ofgem, the office of the gas and eltricity markets, explained.
Ofgem is the Office of the Gas and Electricity Markets, regulating the gas and electricity industries in Great Britain. Ofgem's aim is to bring choice and value to all gas and electricity customers by promoting competition and regulating monopolies.
Ofgem is governed by the Gas and Electricity Markets Authority and its powers are provided for under the Gas Act 1986, the Electricity Act 1989 and the Utilities Act 2000.
Everything that Ofgem does is designed to promote and protect the interests of gas and electricity customers. Ofgem licences and monitors the gas and electricity companies, taking action where necessary to ensure compliance. Its main tasks are to:
- Promote competition in all parts of the gas and electricity industries by creating the conditions which allow companies to compete fairly and which enable customers to make an informed choice between suppliers
- Regulate areas of the gas and electricity industries where competition is not effective by setting price controls and standards to ensure customers get value for money and a reliable service.
- Governance
To view the Utilities Act in whole, on-line, at the Stationery Office's web-site go to: http://www.legislation.hmso.gov.uk/acts/acts2000/20000027.htm
The Authority determines strategy and decides on major policy issues. It is made up of non-executive and executive members. More information about its composition can be seen on the Authority page.
The Authority may regulate its own procedures and has adopted Rules of Procedure.
Source: Ofgem website, Dec 2001
Contacting Ofgem
Ofgem's London office is located at:
9 Millbank, London SW1P 3GE
Telephone: 020 7901 7000
Fax: 020 7901 7066
or if you live in Scotland:
Regents Court, 70 West Regent Street, Glasgow, G2 2QZ
Telephone: 0141 331 2678
Fax: 0141 331 2777
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