Ofgem Review: Final Report - 22nd April 2026

Martin McCluskey (Labour)

To address these challenges, the Government will strengthen Ofgem’s system-wide mandate and capabilities so that it can take whole-system, forward-looking decisions that reflect the interactions between different segments of the value chain. This will help Ofgem to anticipate pressures, drive innovation and competition, and support a more dynamic, efficient and consumer-centric energy system. By ensuring that Ofgem can regulate the energy system as an integrated whole, these reforms will promote efficient investment, enable the scaling of new technologies, and ensure that consumers benefit from a system that is resilient, fair and aligned with the UK’s long-term energy security and net zero commitments. The Government are therefore bringing forward a package of reforms to strengthen Ofgem’s mandate, improve regulatory clarity and reduce duplication, and ensure that the regulator can act more proactively in the interests of consumers. Key measures include:

Modernising Ofgem ’ s statutory duties , streamlining them into three clear pillars of consumer protection, economic growth and delivery of net zero. This will ensure that Ofgem can take clearer, more strategic decisions that directly benefit households and support long-term national priorities. Establishing an Ofgem-specific strategy and policy statement, providing clarity on the Government’s strategic expectations while preserving Ofgem’s operational independence.

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