Government's regulatory office for gas and electricity markets, Ofgem, has been radically restructured creating a new business unit - Ofgem E-Serve, which will focus on administration and delivery of environmental and sustainability projects, helping the UK to meet low carbon economy challenge.
Ofgem E-Serve will allow Ofgem to play an increasing role in delivering the radical changes needed in the energy industry to meet Britain’s emissions targets.
However the restructuring will not affect Ofgem’s ability to protect the interests of its customers. The industry regulatory business unit will continue to operate as Ofgem, and will improve services by placing more emphasis on regional electricity networks through its new local grids business network.
In the past five years Ofgem has recorded savings of £20 million by controlling its own costs, and it is this track record of tight and efficient control which has encouraged the government to entrust it with £3.9 billion of environmental projects, including offshore wind power generation.
The Department for Energy and Climate Change (DECC) is also giving Ofgem a key role in the delivery of smart meters to 26 million British homes and in implementing feed-in tariffs for microgeneration. The DECC is also proposing that Ofgem E-Serve take control of the carbon capture and storage levy.
Posted under Environmental Technologies and Renewable Energy, Energy and Renewables and Public / Government / Charity on 18 September 2009