Ofgem, the U.K. energy watchdog said that it plans for “simpler, clearer, fairer measures” to improve competition in the household market, by putting an end to consumers being confused by complex tariffs. The watchdog said that it plans to ban multi-tier tariffs, scrap tariffs and limit the number of core tariffs by each supplier. Its new proposal would force companies to display their cheapest tariff, on consumers’ bills, and enforce fair treatment by standards of conduct that are backed by fines.
The announcement comes after big energy companies said that they would raise the standard prices for gas and electricity, and from a commitment made by David Cameron, U.K.’s Prime Minister, to reduce people’s energy bills in the U.K.
Full Content: Fox Business
Related Content: A Short Guide to the Prosecution of “Market Manipulation” in the Energy Industry: CFTC, FERC, and FTC
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI