Ofgem Non-Domestic Gas and Electricity Market Review

Today (26 July), Ofgem has reported its findings from a non-domestic gas and electricity market review and subsequently announced it will be asking government for more to be done to address issues in the energy market for business customers.

Included within this review is the announcement that Ofgem will consult on extending micro business protections to all businesses, so energy bills spell out what is being paid to energy brokers plus allowing businesses to resolve disputes through the redress scheme.

This follows a letter signed by Care England to Ofgem, published earlier this week.

Professor Martin Green, Chief Executive of Care England, said: “Over the last 16 months, Government support has not reprimanded the inflated energy costs, which remain unsustainably higher than in previous years, and often worsened by poor broker behaviour.  The care sector has been disproportionally affected by the rising energy costs, and the announcement today is a welcome step forward. Care England has been exercised in its calls for business protection measures and is pleased that the needs of the care sector have been recognised, only this week seeing a broker charge £68,126 for an energy renewal which our own professional energy broker reduced to £12,606. Consulting on extending micro business protections to all businesses is therefore essential to draw a halt to rogue broker behaviour and we welcome the increased protections Ofgem has called on government to consider, including the power to regulate brokers and support vulnerable consumers on non-domestic contracts in care homes.”

Earlier this year, to combat unscrupulous broker behaviour Care England launched the second round of its energy tender which remains open to all care providers, to secure the lowest possible energy prices for gas and electricity renewals between 2023 and 2026. Those wishing to take part can register here.