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Ofgem’s love of the consumer may prevent energy innovation

When is a government regulator not a regulator – well we found this out attending Ofgem’s annual State of the Energy Market event this week – and the answer is, “when it’s obsessively interested in price caps, and nothing else.” We sat through multiple presentations about how the price cap was introduced, why it was introduced, how there was room for both innovation and profitability under the price cap and how it did not get in the way of the “climate emergency,” a subject that Ofgem chairman Martin Cave, gave short shrift to. And many of the 200 plus attendees from major energy firms, City analysts, and alternative energy providers, went along with it, happy ONLY to discuss the details…

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