Chaos Energy Market
The aim of OFGEM is the regulating of the Energy Industry
And helping industries to achieve environmental improvements.
Surely OFGEM are particularly lax in offering licenses to would be energy companies as exposed in recent years
For example in 2019
Energy suppliers ….10 million changed Ownership
In 2020 Some 24 companies went bust
In 2021 More recently - In January alone 410,000 households are having to find alternative suppliers .
90% more than the whole of 2020.
Philippa Pickford, Ofgem’s director for future retail markets, said:
“Our message to energy customers with an energy company that has gone bust, is there is no need to worry, as under our safety net we will make sure your energy supplies are secure and your credit balance is protected.
“Ofgem will now choose a new supplier for you, ensure you get the best deal possible. Whilst we’re doing this our advice is to ‘sit tight’ and don’t switch. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff.
It is interesting to know that Ofgem is a non-ministerial department although it has a gov.uk website.
A non-ministerial department deals with matters for which direct political oversight has been judged unnecessary or inappropriate.
However GEMA looks after the Government affairs team and lets politicians to know what is happening.
Having dispensed with Ofgem- many consumers are surrounded by a myriad of websites that will change your energy supplier giving you a better deal….however, under the terms under which they operate it may be the cheapest or best….but the rate of commission can be a factor !!
Then there is Smart Metering which encourages all energy company to get their customers to take up Smart Meters…..through no cost to themselves.
Around a third of customers are under the impression that if they pay extra they can be placed on a green tariff, and receive renewable energy to their home. This is a complete fallacy and the only way they can ensure renewable energy to their home is to be directly connected to your own solar panels !!
Then there is the incredible green energy certificates that muddies the water further.
In March 2019 Electricity was generated as follows
The above figures does not appear the country is going Green !!!
The whole market is a time bomb which eventually will explode.