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UK: Energy, water sector overhauls earn guarded support

 |  April 24, 2013

A proposed policy reform to overhaul the energy and water sectors within the UK is earning guarded support from members of the industries since its introduction from John Penrose MP in a policy paper, which argues the policy change is pro-competitive and benefits consumers. According to the proposal, the soon-to-be established Competition and Markets Authority will hold responsibility for regulating the markets; as such, Ofwat and Ofgem, the current regulators of the markets, will hold jurisdiction over “unreformable” monopolies. The policy suggestion is not novel, yet timing may push support ahead of elections. The Competition and Markets Authority is the future antitrust regulator that will combine the Office of Fair Trading and the Competition Commission.

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