Occasionally, the House of Commons ordered changes to be made in terms of membership of the select committee, as proposed by the Committee of Selection. Such changes are shown below.
In July 2022, the committee published its report "Energy pricing and the future of the energy market" which examined the turmoil in retail energy arising from unusually high wholesale gas prices, leading to the collapse of several suppliers and the need for government support of Bulb Energy. The committee found that the industry regulator Ofgem had been incompetent in its supervision of the finances of supplier companies, and that the government overlooked this lack of supervision because it prioritised competition over market regulation. The report also criticised Ofgem's design of the energy price cap, recommending that the government consider introducing a social tariff; stated that the government's May 2022 support package for customers was no longer sufficient; and criticised the absence of a home insulation programme.[8][9]
In response, Ofgem accepted that its previous financial resilience regime was not sufficiently robust, and had contributed to some of the supplier failures since August 2021.[10]
