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2362922
Ofgem
Description
Ofgem mind map
No tags specified
ofgem
cma
electricty
economics
a2 level
Mind Map by
8nwright
, updated more than 1 year ago
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Created by
8nwright
over 9 years ago
6
0
0
Resource summary
Ofgem
Promote Value for Money
Dealing with information failure
Switching suppliers
Enforcement action in the form of fines
Transparency of costs, prices and profits
Price controls
Ensure Security of Supply
Promote Sustainability
Reducing demand
Switching away from fossil fuels
Run competitions with money rewards to the winners
Provide customers with exact details on electricity usage
Implement Government Regulation
Renewables obligation
Feed-in tariff system
Energy Companies Obligation
Warm house discount scheme
Employ 800 people at cost anually of around £83 million
CMA
Enforcing consumer protection legislation
Theories of Harm
Vertical integration of electricity generation and retail supply
Dominance by big six
Unwillingness to switch suppliers
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