2343709
Description
Mind Map by 8epark-poulson, updated more than 1 year ago
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Created by 8epark-poulson
over 9 years ago
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Ofgem
- Protecting the interests of current and future electricity and gas consumers
- Promote value for money, which includes competition issues
- Reduced the number of tariffs energy companies could offer to household to just four
- Made it compulsory for them to tell consumer if there was a tariff that would be cheaper over the next 12 months
- Made it compulsory for them to tell consumer if there was a tariff that would be cheaper over the next 12 months
- Aim to bring next-day switching
- Currently a month
- Currently a month
- Fining firms that mis-sell
- Fines up to £10.5 million
- Money distributed to customers facing fuel poverty
- Fines up to £10.5 million
- Transparency of costs, prices and profits
- Must publish seperate accounts for generation and supply
- Most publish whole sale prices 3 month in advance
- Helps small retailers who buy their gas and energy from the big-six
- Helps small retailers who buy their gas and energy from the big-six
- Must publish seperate accounts for generation and supply
- Gas and electricity network operators are told the prices they are allowed to charge by Ofgem
- Reduced the number of tariffs energy companies could offer to household to just four
- Ensure security of supply
- Free market would fail to prevent black outs as extra capacity for peak demand is not cost efficient
- Strategic resource
- Cannot be stored
- Wind is unreliable
- Cannot be stored
- Free market would fail to prevent black outs as extra capacity for peak demand is not cost efficient
- Promote sustainability , reducing energy consumption away from fossil fuels
- "Smart meters" provide constant reading oh household useage
- Due for every home by 2020 for free
- Pay for themselves by replacing meter readers
- Help consumers reduce their bills
- Allows energy companies to charge us more during peak periods of demand
- Ofgem settling on 30 minute charging period
- Ofgem settling on 30 minute charging period
- Due for every home by 2020 for free
- Annual competitions with up to £50 million prize more, for companies to find ways to reduce demand or become more eco-friendly
- "Smart meters" provide constant reading oh household useage
- Implement government regulations
- Reducing UK emissions over 1990-2050 by 80%
- Growing proportion of renewable energy
- Buy energy from small scale producers, homes with solar pannels
- Reduce domestic consumtion, install insulation
- Discounts worth £300 million annulay to the fuel impoverished
- Reducing UK emissions over 1990-2050 by 80%
- Funded mostly from levy from companies (£83 million)
- Promote value for money, which includes competition issues
- "Ofgem may have unwittingly contributed to the problem of weak competition and high prices"
- Big-six profits up significantly since Ofgem started giving more frequent and detailed instruction
- Big-six profits up significantly since Ofgem started giving more frequent and detailed instruction
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