OFGEM

That this House is deeply concerned that Ofgem, the energy regulator, continues to focus unnecessary attention on the pension schemes of workers in the gas and electricity industries; notes that despite the massive recent fall in the price of oil, the regulator has failed to exert sufficient pressure on the energy companies to reduce retail prices to hard-pressed consumers; is dismayed at the continuation of Ofgem's light touch regulatory approach towards the energy market; further notes that this approach contrasts sharply with its persistent attempts to interfere with the occupational pension schemes of gas and electricity workers; and calls on Ofgem to abandon its ill-conceived preoccupation with these pension schemes and concentrate instead on taking swift and decisive action to regulate the energy market effectively and fulfill its primary duty to protect consumers.