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Elly Rewcastle

Energy price cap: What is Ofgem and what does it do?

Ofgem has been at the forefront of the news over the past year as it fights to help people maintain control over their energy bills. It is responsible for setting the energy price cap and holding the energy suppliers to account.

The regulator is often quoted in stories and referenced on the news but to the average person, the organisation may be a bit of an enigma.

Whether you want to know about the price cap, going greener or how to complain, the regulator can help. Here’s everything you need to know about Ofgem.

Read more: Household energy bills to rise by £500 in April - despite Ofgem price cap falling by £1,000

What is Ofgem?

Ofgem is a non-ministerial government department and independent National Regulatory Authority. In layman's terms, that means that Ofgem is a government regulator.

They are charged with protecting consumers, holding energy firms to account and helping to deliver “a greener, fairer energy system”.

What does Ofgem do?

Ofgem is responsible for working with the government, industry bodies such as suppliers and producers and consumer groups to deliver a net-zero economy at the lowest cost to consumers. It says that it wishes to stamp out sharp and bad practices, ensure fair treatment for all consumers and enable competition and innovation.

What help does Ofgem provide?

As it’s independent, Ofgem is able to offer consumers advice and support when it comes to energy. They are there to hold suppliers accountable and as such, if you have an issue with your supplier then the regulator will be there to help.

They will be able to advise you on your rights when it comes to complaints, scams and compensation. Ofgem can also help with financial support if the cost of your energy bills is impacting you.

In its role in aiding the move to a greener energy network, Ofgem sets targets for energy suppliers on things such as renewable energy and smart meters, which can help to keep emissions down as well as save customers money.

How can I get in touch with Ofgem?

For the majority of reasons, you won’t actually need to contact Ofgem directly. Its website is the primary source of information and includes all the necessary contact information for each individual area.

Its website also includes multiple pages of advice for every possible scenario that you can think of. Whether it’s getting financial advice to help cope with rising bills, going greener or swapping to a smart meter, they have you covered.

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