UK

Ofgem Decision on NESO's Annual C9 Review Submission

Ofgem has responded to the National Energy System Operator's (NESO) annual submission of revisions to its Electricity System Operator licence condition C9 statements. Ofgem has decided not to use its veto powers, allowing the proposed revisions to proceed.

Ofgem: Electricity Distribution GSOP Payments Adjusted for 2026-2027

Ofgem has published guidance detailing adjustments to Guaranteed Standards of Performance (GSOP) payments for electricity distribution network operators for the 2026-2027 regulatory year. These adjustments reflect inflation and are effective from April 1, 2026.

Ofgem Decision on Market Arrangements for Multi-Purpose Interconnectors

Ofgem has decided to implement Offshore Bidding Zones (OBZs) with implicit trading arrangements as the preferred market model for Multi-Purpose Interconnectors (MPIs). This decision follows a consultation on market arrangements and aims to improve market efficiency and integrate offshore renewables. Further development of the regulatory framework is ongoing.

Bank of England Inflation Attitudes Survey Results

The Bank of England has published the results of its latest quarterly Inflation Attitudes Survey for February 2026. The survey assesses public perceptions of inflation, the Bank's work, and economic expectations, with key figures showing a slight decrease in current and expected inflation rates compared to November 2025.

Recycling Company Fined for Telehandler Incident Causing Life-Changing Injuries

Sheridan Skips Burnley Limited was fined £24,000 after an employee suffered life-changing injuries in a telehandler incident. The Health and Safety Executive investigation found the company failed to conduct adequate risk assessments and segregate vehicles from pedestrians.

Bank of England: New Deputy Governor for Prudential Regulation Appointed

The Bank of England has announced the appointment of Katharine Braddick as the next Deputy Governor for Prudential Regulation and Chief Executive of the Prudential Regulation Authority, effective July 2026. This appointment follows a review of the PRA's existing initiatives to support lending and reduce business burdens.

Bank of England AI Roundtables Summary

The Bank of England published a summary of its AI roundtables held with regulated firms in February 2026. The discussions focused on the responsible adoption of AI and ML, with participants generally supporting the existing regulatory framework and not seeing an immediate need for new AI-specific guidance.

BEEDS UAT Environment for Statistical Taxonomy v1.3.1

The Bank of England has made a User Acceptance Testing (UAT) environment available for statistical reporting firms and software houses to test Statistical Taxonomy v1.3.1. This UAT window is open from March 30 to April 17, 2026, and is the final UAT before live submissions for end-May 2026 data.

Energy Price Cap to Fall 7% from April 2026

UK energy regulator Ofgem announced that the energy price cap will decrease by 7% from April 1 to June 30, 2026. This reduction, amounting to approximately £117 annually for average households, is primarily driven by recent government budget interventions on policy costs.

Ofgem CEO Jonathan Brearley to Step Down

Ofgem announced that Chief Executive Officer Jonathan Brearley will step down at the end of March 2026. Tim Jarvis will serve as Acting CEO during the transition period while a search for a permanent successor is initiated.