Ofgem

Description

Ofgem mind map
8nwright
Mind Map by 8nwright, updated more than 1 year ago
8nwright
Created by 8nwright over 9 years ago
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Resource summary

Ofgem
  1. Promote Value for Money
    1. Dealing with information failure
      1. Switching suppliers
        1. Enforcement action in the form of fines
          1. Transparency of costs, prices and profits
            1. Price controls
            2. Ensure Security of Supply
              1. Promote Sustainability
                1. Reducing demand
                  1. Switching away from fossil fuels
                    1. Run competitions with money rewards to the winners
                    2. Provide customers with exact details on electricity usage
                    3. Implement Government Regulation
                      1. Renewables obligation
                        1. Feed-in tariff system
                          1. Energy Companies Obligation
                            1. Warm house discount scheme
                            2. Employ 800 people at cost anually of around £83 million
                              1. CMA
                                1. Enforcing consumer protection legislation
                                  1. Theories of Harm
                                    1. Vertical integration of electricity generation and retail supply
                                      1. Dominance by big six
                                        1. Unwillingness to switch suppliers
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