The article by David Osmon of Ideal Economics in The Standard shown below anticipated the call by Energy UK, the trade association for the energy industry, on 22 October for Ofgem’s remit to be radically reformed and reduced to make it more independent and effective.
https://www.energy-uk.org.uk/news/energy-uk-calls-for-shake-up-of-energy-regulation/
Energy UK’s call closely echoes David Osmon’s article: “Energy UK argues that by becoming too big and bureaucratic, Ofgem has overseen a dramatic increase in red tape, reducing growth, and pushing up costs for customers – while a failure to assert its independence in the face of external pressure has fuelled short-term thinking, detracting from its main duties and the carrying out of effective, efficient regulation.”
It even mirrors the article’s references to the increases in Ofgem’s headcount and budget; how Ofgem’s failure to effectively regulate the retail market led to 30 suppliers collapsing in 2021-22; and Ofgem’s tendency to make ‘kneejerk’ responses and launch investigations without a clear rationale.