In our latest podcast, Associate Director for Training Ed Reed, Analysts Tom Faulkner and Emma Bill come together from different locations to discuss the importance of energy supplier good practice in ensuring compliance and delivering good consumer outcomes.
With Ofgem having moved towards more principles-based regulation, the trio discuss best practice examples from the regulator’s vulnerability reports as well as lessons learned from Ofgem’s compliance and enforcement work. The podcast follows the latest update to the Energy Supplier Compliance Portal which covers proposed and incoming supplier obligations and, from November, also includes new sections on good practice as indicated by the regulator and recommendations from Citizens Advice and others.
Looking at recent compliance engagement by Ofgem, they consider how suppliers can draw on lessons learned to meet the regulator’s expectations in areas such as customer communications, an area of compliance that comes up often.
With winter fast approaching, they also consider new protections for customers self-disconnecting and self-rationing their energy use. They also discuss how COVID-19 has prompted suppliers to offer support above and beyond what is deemed ‘normal’. Examples include identifying and proactively contacting customers facing, or are likely to face, difficulties paying for the energy they need in the coming months.
Our experts focus on three themes:
- Good practice doesn’t necessarily require great resource.
- Principles-based regulation enables suppliers an opportunity to differentiate themselves .
- How, over time, good practice can sometimes become the norm.
Below is a 60-second extract from our full podcast.