In the spring, Ofgem announced its Insight for Future Regulation project, and has now produced the first paper of a series: first Future Insights discussion paper. It sets out some of the dramatic changes in the way we use and buy energy which might come about in the next five or ten years.
First, a health warning – past predictions are not a firm guide to the future, though they are the best we have got. Between December 2012 and March 2016, the number of active gas or electricity suppliers in the domestic market doubled from 20 to 43. Forecasts by the (then) Department of Trade and Industry in 2000 for electricity demand in 2015 turned out to be 20% too high – our appliances are much more efficient than anticipated. Continue reading