A Path to Success Amidst Regulatory and Economic Challenges
The UK energy industry is under more regulatory and economic pressure than ever before, as companies strive to accelerate the drive to Net Zero while supporting consumers through a cost-of-living crisis. Ensuring that business procedures are robust, efficient, and auditable has become crucial to success. With these challenges in mind, our Compliance and Performance Assurance Service aims to help industry participants navigate this complex landscape.
Navigating Complex Challenges
Energy companies face multiple complications in today’s rapidly changing environment. Meeting regulatory requirements, supporting Ofgem Market Compliance Assessment activities, and fulfilling statutory obligations can be resource-intensive, increasing the likelihood of regulatory gaps, revenue leakage issues, and missed process improvement opportunities. Our Compliance and Performance Assurance Service addresses these concerns by helping clients understand and resolve gaps against regulatory requirements, implement process improvement opportunities, and prevent revenue leakage.
The Compliance and Performance Service Advantage
Our service consists of two primary offerings:
Regulatory Auditing: We provide audit reporting in a standardised template that is acceptable to regulators. Our tried and tested approach enables us to identify and document process efficiency improvements for clients.
Performance Assurance: Leveraging a similar approach to our auditing service and our detailed understanding of industry benchmarks, we present detailed findings reports that clarify areas of process inefficiency and potential regulatory gaps.
As ISO:9001 Quality Management Systems Lead Auditors, our experts have the ability to consistently apply this methodology to conduct comprehensive process reviews in line with the standard.
Proven Track Record
Over the years, we have carried out independent FIT Levelisation and Warm Homes discount audits, identifying and documenting process efficiency improvements. We have supported large energy suppliers in resolving process weaknesses in areas that were reported in the initial phase due to direct customer impacts. Our experience spans various sectors, including electricity imbalance, billing, and collections, where we have helped organisations identify root causes, gaps, and process improvements.
In a time of increasing regulatory and economic pressure, energy companies must adapt and improve their processes to stay competitive. Our Compliance and Performance Service offers a solution that enables businesses to meet these challenges head-on, ensuring regulatory compliance, process efficiency, and revenue protection. By partnering with us, you can navigate the complexities of the UK energy industry and build a more resilient, efficient, and customer-focused business.