The new chief executive of Ofgem has pledged to crack down on “sharp practice” in the energy retail sector and promised networks a squeeze on the cost of capital. Jonathan Brearley also vowed to change the perception of the regulator as overly concerned with short-term cost-cutting at the detriment of future investment. And, he insisted the fears around the potential pitfalls of the energy price cap have so far proven to be misplaced.