Written evidence submitted by Policy Exchange (EPM0004)





Questions in the Committee’s Call for Evidence:

The regulatory requirements companies must meet in order to trade as a regulated entity in the retail energy market.


The mandate, role and performance of Ofgem in setting regulation and supervising regulated entities.


The performance of previous policies introduced to stimulate effective competition within the retail energy market, and an assessment of the impact on competition of proposed future regulatory frameworks.


The functioning and performance of the ‘energy price cap’ and an assessment of its use in the future, and an assessment of the role of auto-switching. 

Price Cap:





Government proposals on switching:


The future of Bulb and the recovery of public funds and the cost to consumers of other energy supplier failures.


The role of retail market reform in the context of the UK’s net zero transition and domestic energy security requirements.


Why change is important:

What change could look like:


The comparison of UK wholesale prices and additional costs with the wholesale prices and additional costs across Europe.


January 2022

[1] https://www.ofgem.gov.uk/publications/check-whos-taken-over-your-energy-supply

[2] https://www.gov.uk/government/news/bulb-customers-protected-as-energy-provider-enters-special-administration

[3] https://www.ofgem.gov.uk/publications/decision-supplier-licensing-review-ongoing-requirements-and-exit-arrangements

[4] https://www.ofgem.gov.uk/publications/building-energy-market-resilience

[5] https://www.ofgem.gov.uk/publications/infographic-bills-prices-and-profits (accessed 12 Jan 2021)

[6] https://policyexchange.org.uk/energy-price-cap-should-be-relative-not-absolute/

[7] https://policyexchange.org.uk/electricity-markets-under-pressure/

[8] https://policyexchange.org.uk/publication/powering-net-zero/