Re-regulating energy retail will break it, not fix it

There is currently much public debate about whether the domestic energy market is working, whether big energy companies are treating customers and small suppliers unfairly, and about energy companies' profits. Ofgem has proposed, under its Retail Market Review, far-reaching re-regulation of retail tariffs. But at a recent Policy Exchange event, professor Stephen Littlechild, the distinguished former electricity regulator, argued that the retail energy market is working and Ofgem's proposals risk damaging it.