Energy regulator Ofgem says it is postponing the publication of its annual State of the Market report for this year due to the pandemic.
In an announcement this afternoon (23 October), the regulator said it has had to reprioritise its work load due to Covid-19.
In a statement the regulator said: “As a result, we have decided to postpone the State of the Market Report for this year. We are also reviewing how we provide information on the operation of the energy market.
“We continue to monitor the pandemic’s impact on the energy sector and continue to understand how we can best support all consumers, particularly those in vulnerable circumstances. We have taken action to respond as quickly as possible to the impacts, and will continue to do so as the situation develops.”
In March the regulator announced it had been in discussions with energy networks and retailers over how the industry can respond to the crisis most effectively.
Specifically, Ofgem’s chief executive Jonathan Brearley said discussions had centred on what activities they may need to deprioritise in order to do this, and how this might impact on their ability to comply with their various regulatory obligations.
In June, three schemes were announced which allowed networks, as a last resort, to put off up to £350 million worth of charges relating to gas transportation, electricity distribution and electricity transmission. The schemes have now closed.
Earlier this month Ofgem revealed that a total of more than £65 million has been deferred. The firms are required to pay these charges in full by March next year.