Ofgem seeks ideas to simplify regulations

Ofgem seeks ideas to simplify regulations

by Big Mac

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Ofgem is inviting new ideas to help it simplify, clarify and make its regulations work better.

It has launched a consultation for it’s “Simplification Plan 2016-17” which aims to reduce burdens and allow it to become more consistent, transparent and targeted in its work.

The regulator has a legal duty to review its activities and publish an annual Simplification Plan, explaining what it intends to do to reduce or remove regulatory requirements which have become burdensome.

“Our initiatives to reduce burdens and make our processes more effective should support delivery of the consumer outcomes.  The Simplification Plan should also help to ensure that the activities in our Forward Work Programme reflect best regulatory practice and meet our duty to keep our activities under review,” it stated.

Ofgem added: “Our Simplification Plan will give more insight on how we deliver our proposed new duties, how considerations of regulatory burdens are reflected in our planning and decision making and what this means for the businesses we regulate and the consumers they serve”

The consultation closes on 11th February 2016.