Ofgem, the UK energy regulator, has today published an open letter setting out its expectations for trials of new approaches to billing and other customer communication. Ofgem sees “huge scope to use trials to refine and improve prompts” and other information to engage consumers.
The open letter picks up many themes that were raised by Frontier Economics in its 2014 submission to the Competition and Markets Authority during the market investigation into personal and SME retail banking. Frontier’s submission has since formed the basis of discussions on behavioural economics involving a broad range of interested stakeholders and regulators, including Ofgem.
Frontier regularly advises clients in a range of regulated sectors on behavioural economics and trialling.
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