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Energy: How are UK electricity and gas prices regulated?
UK gas and electricity companies are carefully regulated to ensure that customers’ needs come first. It is essential that such a large and competitive market be regulated to protect customers when things go wrong, to safeguard the environment, to protect natural resources and to help to keep electricity and gas prices fair.
The regulatory bodies
The following table lays out the gas and electricity regulatory bodies in the UK and how to get in touch:
Regulatory Body | What do they do? | Who do they help? | Contact |
OFGEM | Official independent body for both gas and electricity. They have stringent environmental targets that energy suppliers must meet, ensure good customer service is maintained, resolve complaints and keep the price of gas and electricity competitive. | The consumer. They also have protection policies in place for business gas and electricity customers, for example against misleading sales practices. | Consumer affairs hotline 0207 901 7295 |
Energy Ombudsman | Independent government body that can help to settle disputes over energy bills. | Private and commercial customers. Service is free of charge. | |
Department of Energy and Climate Change (DECC) | Governmental department which sets energy policy and targets in the UK. | Consumers, gas & electricity suppliers and OFGEM. | |
ELEXON | Regulates the infrastructure and pricing of buying and selling electricity by managing the Balancing and Settlement Code. | The entire electricity industry. | |
Consumer Focus | Watchdog for consumer affairs across a range of industries. They provide free and impartial advice on gas and electricity suppliers and guidance on energy saving and making complaints. | Consumers. | Call 020 7799 7900 for London office. |
Citizens Advice Bureau | One stop shop for free independent advice. | Customers | or offices nationwide. |
Keeping electricity and gas prices fair
One thing these regulatory bodies all have in common is striving for transparency and fairness in the way the energy market is run and price decisions are reached. This can only be good news for the consumer. Gas and electricity tariffs are often a contentious issue, as it is an essential commodity for our homes and businesses. If you do have a complaint or would like independent advice, these regulators are an excellent place to start.
