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GREAT WESTERN ENERGY

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The role of OFGEM

The Office of Gas and Electricity Market (OFGEM) was setup to enforce and create regulatory measures to ensure the fair trade of gas and electricity products. Its role ensures fair competition and hands power to the consumer where poor practice has taken place. All electricity and gas suppliers must have a valid suppliers licence, which is available for the non-domestic and/or domestic markets. This industry is highly regulated to ensure safe and fair practice is enforced. Consumers have the right to complain to OFGEM if they feel their supplier has not performed sufficiently to the the licence regulations. Similarly, meter reading agents, shippers, transporters, distributors, generators and other system operators are subjected to the legal authority OFGEM has.

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Are brokers regulated by OFGEM?

No, brokers or third party intermediatries (TPI) do not report to OFGEM. Usually, the supplier will ensure a TPI agreement is in place with the broker which outlays their working practices. Great Western Energy only contracts brokers of a high standard in terms of honesty, respect, accuracy, transparency, customer service and professionalism. Brokers recieve commission/uplift usually on a pence/kWh basis, which is included in your monthly invoice and combined with your unit rate.