Ofgem looks to update licensing for energy retail market innovation

Ofgem is looking to change licensing rules to support innovation in the energy retail market.

The regulator is considering making licensing more flexible, which could include reforming requirements for all suppliers and expanding options for restricted or individual licenses.

This would allow new energy products and services to enter the market more quickly, without the need for new legislation.

The proposed changes aim to benefit consumers while ensuring their protection.

Ofgem believes that updating these licensing rules could lead to new energy solutions that better meet the needs of customers.

The regulator is currently seeking feedback on these measures to determine the best approach for the market and consumers.