Jan 28 2025 15 mins 1
39 Essex Chambers' barrister Steph David talks with Sinead Murray, General Counsel of Ofgem, who explains the key and expanding role that Ofgem plays in driving the transition to a net zero future in the energy sector.
She explains Ofgem’s role in administering various schemes to incentivise a transition to low carbon technology, and its role in regulating licensed gas and electricity suppliers, networks and infrastructure.
She sets out the diversification of Ofgem’s powers as the energy sector diversifies to meet the challenge of net zero, including through carbon capture and storage and hydrogen; and how Ofgem works alongside the new entity, National Energy System Operator (NESO).
Sinead then discusses the importance of Ofgem’s principal objective, in particular, protecting the interests of existing and future energy consumers, which is now defined to include assisting the Secretary of State in achieving the net zero targets set out in the Climate Change Act 2008.
She also gives an interesting example of Ofgem funding changes in relation to the use of gas, SF6, as part of Ofgem discharging its statutory obligation.
