In September’s Watt Matters, we look at the increasingly fractious relationship between the UK government, Ofgem and energy companies. The negative narrative for the sector is somewhat surprising given the sector’s successes over the last 5 years: rapid decarbonisation, improving security of supply, and lower domestic bills. Unfortunately the positives have been drowned out by the uproar around price discrimination in domestic energy retail. The incumbents’ attempts to limit some form of price protection have become counter-productive, damaging their brands, increasing their cost of capital and diverting management attention away from the challenges and opportunities that technology is bringing. The electrification of transport and use of technology to monetise customer flexibility offers significant opportunity for energy companies with the imagination to grasp them.
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