Ofgem has invited expressions of interest for a regulatory sandbox, which will allow innovators to trial business propositions without incurring all of the usual regulatory requirements.
In an open letter, Pamela Taylor, who heads up the regulator’s Innovation Link service, said: “We have an open mind on the exact form of support offered by the regulatory sandbox. Hence, we are calling innovators to come forward with information about the regulatory barriers they face in order for us to assess whether there is support that we can offer.”
Options for support, which will be time-limited, may include:
- Bespoke guidance: guidance on the interpretation of or compliance with regulatory requirements, which innovators can rely on for a defined period of time.
- Indication of approach to enforcement: guidance on how Ofgem might enforce particular regulatory requirements (in accordance with our Enforcement Guidelines) which would be valid for a particular period of time
- Derogations or exemptions from certain regulatory requirements: where relevant, Ofgem will refer innovators to exemptions or derogations that already exist and support them in their application.
Interested innovators should email a completed expression of interest form to [email protected] and mark your email as a sandbox enquiry. Final expressions of interest must be submitted by Friday 17 March 2017.
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