As consumers and politicians alike pressure the UK’s energy market to explain rising prices, energy regulator Ofgem has reportedly admitted that it cannot say for sure what a competitive energy market would look like, despite officials calling for such a situation.
Reports say Ofgem head Andrew Wright remarked Tuesday that the regulator’s investigation into the market, which began five years ago, was started with the intention of finding out just what competition in the energy sector means; until then, however, it cannot be defined.
Ofgem has implemented various policy changes into the energy market since 2009 following a 2008 market inquiry; now, Parliament is calling for a market assessment of competition levels in the industry. Such a review will be carried out by Ofgem and the Office of Fair Trading, as well as the incoming regulator the Competition and Markets Authority.
Ofgem said it is now planning to hold annual reviews of the industry with the OFT and CMA.
Full content: Telegraph
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI