Ofgem chairman David Gray has promised a detailed implementation plan for the CMA’s final remedies package in September, following on from an initial response due during July.

Speaking at Elexon’s annual meeting, he said that changes to the industry codes “may be the single remedy with the most effect in making the market work”. He described them as not effective at ­delivering “strategic, large-scale, rapid [change], especially if it affects incumbents’ business models. That matters when the industry is facing change”.