ABOUT US
Who we are
Ofgem is the Office of Gas and Electricity Markets. We are a non-ministerial government department and an independent National Regulatory Authority, recognised by EU Directives. Our principal objective when carrying out our functions is to protect the interests of existing and future electricity and gas consumers. We do this in a variety of ways including:
- promoting value for money
- promoting security of supply and sustainability, for present and future generations of consumers, domestic and industrial users
- the supervision and development of markets and competition
- regulation and the delivery of government schemes.
We work effectively with, but are independent of, government, the energy industry and other stakeholders within a legal framework determined by the UK government and the European Union.
Transparency
We try to be transparent in our work at all times. Our practices include:
- providing full, timely and thorough consultation opportunities for interested parties in the way we explain our approaches and reach our decisions , including our strategies and plans
- arranging meetings and workshops as we share with stakeholders the analyses underpinning our decisions
- holding briefings and occasional seminars for interested parties, including Parliament and the Press
- publishing the minutes of Authority meetings.
How are we funded?
We recover our costs from the licensed companies we regulate. Licensees must pay an annual licence fee, which is set to cover our costs. We are wholly independent of the companies we regulate.
We operate a cost control framework consistent with the outcome of our Spending Review 2015 settlement. This sets out a cumulative real terms reduction of -15% by 2019-20.
Careers
We are a diverse and vibrant organisation, with the majority of our staff working in our London and Glasgow offices. The focus of our remit means that we can provide excellent opportunities for economists and lawyers. In addition to this, we have many policy, general operational and support roles across a range of areas from finance to communications, strategy to information technology and project management, and research to human resources.
We aim to attract, support, retain and motivate our staff by making sure that they have the skills and knowledge to perform their roles effectively and provide them with development opportunities to build a career.
