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UK: Gov’t uses banking, wireless models to up competition in energy market

 |  October 30, 2013

Government officials are cracking down on the UK’s energy sector as of late in efforts to put a stop to rising consumer costs. In its latest effort, the government is reportedly seeking to have consumers be able to switch energy providers as easily as the switch banks or wireless carriers

Implementing such a plan could be announced as early as Today, reports say, during energy secretary Ed Davey’s annual energy statement in Parliament.

Earlier this week Prime Minister David Cameron called for a market inquiry into the energy sector; officials have since placed pressure on the UK’s top-six energy providers to answer to their rising costs.

In his speech, reports say Davey will outline the upcoming competition review of the market, set to begin next spring and likely to be carried out by energy watchdog Ofgem and the Office of Fair Trading, as well as the new Competition and Markets Authority.

Full content: The Guardian

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