My Meeting With Ofgem Today

Hi everyone!

As most of you know, I had a meeting with the Director of Retail at Ofgem this morning. I also received a written response from Ofgem earlier this week and I've replied to that letter. I've written more in-depth about both of those in an article on my website, a link is at the bottom of this update if you're interested in reading more. 

As a quick update, I wanted you all to know about 3 massively positive things that came out of this week:

1. Ofgem are already reviewing the EBIT (profit) section of the price cap because they know it gives too much profit at the moment!
2. Even though we missed the consultation window (because I didn't know it existed), Ofgem have taken our petition into consideration for the EBIT review. This is great and I hope it means they'll decide on setting EBIT as a fixed value, just as our petition calls for
3. Finally, I've been invited to join a forum of charities and consumer groups that meet with Ofgem to discuss issues with the price cap! This is amazing, it means I can talk to Ofgem about our complaint in a formal setting, this is the first step to making change! Whilst progress is being made on the EBIT section, no progress has been made on the Headroom issue, so I plan to bring this up at the first meeting of this Forum I attend, which should be this month. 

Those are the main 3 updates, overall the Ofgem meeting today was very productive and I'm glad to now be on the inside and be able to give a formal voice to the 200,000+ people that have signed this petition. 

If you'd like to read more detail, please feel free to check out the article I've written on my website:

https://www.over50smoney.com/Home+Bills/Energy/356__Petition+Against+Ofgem+for+Price+Cap+Reform+%E2%80%93+A+Reply+From+Ofgem%2C+A+Meeting+With+Ofgem+and+Other+Updates

There is more work to be done yet, we haven't got the petition into parliament yet. Next week, I'll come back with the next steps for this petition! Keep up the great work everyone, we've had 10,000 new signatures today, hopefully we'll be at 1/4 of a million soon. Please keep sharing the petition on your social media pages and with your friends and families. 

Thanks everyone,

Richard Winstone