The UK’s Department of Energy and Climate Change released figures published Sunday that suggest energy watchdog Ofgem has failed in its efforts to crack down on the dominance of the so-called Big Six energy firms.
Reports say the Department’s report suggests a stagnant market and that Ofgem has not acted to reign in the market dominance of the top six energy companies. Inquiries have been launched into the companies’ pricing strategies as domestic power bills continue to spike.
Ofgem is expected to release its preliminary findings later this week of an investigation into the market and top companies including British Gas and E.ON. Reports suggest that Ofgem’s anticipated report could call for a breakup of the top six energy companies. But shadow to the energy and climate change secretary, Caroline Flint, expressed skepticism over Ofgem’s efforts, saying that such an investigation and its findings would only earn consumer confidence if they included proposed remedies to lower energy costs for consumers and boost competition in the industry.
Similarly, consumer watchdog Which?, along with the Federation of Small Businesses, have appealed to authorities to launch a full-scale probe into what they consider a “broken” market, reports say.
Full Content: The Guardian
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Pork Industry Faces Legal Challenges as Antitrust Lawsuits Against Seaboard Foods Dismissed
Oct 2, 2024 by
CPI
CMA Strengthens Investigation with Advisory Panel of Veterinary Experts
Oct 2, 2024 by
CPI
US Merchants Sue Visa, Alleging Unfair Dominance in Debit Card Market
Oct 2, 2024 by
CPI
European Commission Appoints New Chief Competition Economist
Oct 2, 2024 by
CPI
EU Commission Requests Information from YouTube, Snapchat, TikTok on Algorithm Usage
Oct 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh