Britain's Energy Shake-Up: Ofgem's Role in a Greener Future

Britain unveiled plans to empower its energy regulator, Ofgem, in efforts to achieve a decarbonised energy system by 2030. These measures aim to enhance consumer protection and facilitate investment in green energy. The consultation seeks public input, marking the beginning of the reform process.

Britain revealed ambitious strategies to empower energy regulator Ofgem as part of its shift towards a decarbonised energy system by 2030. These plans, announced on Thursday, are set to strengthen consumer safeguards and encourage investment in sustainable energy resources.

The Labour government, in power since July, is determined to overhaul Britain's energy generation, moving away from fossil fuels and embracing green energy. This transformation poses a significant challenge, necessitating substantial investments and modifications to the energy grid, subject to Ofgem's oversight and approval.

The newly launched consultation aims to explore avenues for enhancing Ofgem's role in regulating energy infrastructure and supporting investment. While detailed reforms were not disclosed, this initiative marks the first step in the reform process, inviting input from energy consumers, groups, and the industry, with a February deadline for responses.

(With inputs from agencies.)