UK: ELECTRICITY INDUSTRY ATTACKS OFGEM CONTROLS
Article Abstract:
The Association of Electricity Producers in the UK, representing all the major electricity generators, is to launch a harsh attack on the regulatory body Ofgem, in evidence to be presented to the Commons Trade and Industry Select Committee on 25 January 2000. The criticisms include a condemnation of the 'good behaviour condition' introduced into the licences of seven generating companies, together with the large increase in the budget for Ofgem for 2000, bringing it to GB[pound] 64.5mn. The generators contend that the conduct of the merger between the former gas regulator Ofgas and former electricity regulator Offer has been mishandled, to the detriment of the industry of the whole.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: OFGEM TO IMPOSE PRICE CUTS ON MERGER FIRMS
Article Abstract:
In exchange for approving the merger of their distribution networks, energy regulator Ofgem is to impose price cuts on bills for 5mn customers of London Electricity and Eastern Electricity. Eastern will have to reduce domestic prices by GB[pound] 20 annually whilst a price cut of GB[pound] 13 will have to be introduced by London Electricity. Ofgem says it is only fair that customers should share in the extra value created when companies merge. It predicts this particular merger will yield cost savings of at least GB[pound] 12.5mn to the two firms involved.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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UK: OFGEM MAY RETHINK GENERATOR PRICE CONTROLS
Article Abstract:
The head of UK energy regulator Ofgem, Callum McCarthy, has stated that he may reconsider price controls on electricity generators if it is found that they are failing to pass price reductions on to customers. Although the billing problems recently suffered by Independent Energy have not brought to light systemic problems, it is thought that the new competitive market in electricity supply may produce some casualties. It is anticipated that more competition among generators may reduce bills by up to 10%. Customers' bills may fall by around 6% in 2000, while wholesale prices have already fallen by around 15%. The regulation process, meanwhile, is set to become more transparent.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2000
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