A PYMNTS Company

UK: New CMA begins operations, takes on energy sector

By  |  March 30, 2014

As the UK’s new competition watchdog, the Competition and Markets Authority, readies to begin operations this week, the head of the new regulator, Alex Chisholm, revealed his tough stance against cartels and offered insight into how the CMA will take on the new battle to crack down on the Big Six energy dominance.

In his first newspaper interview since taking the position as CMA Chief Executive last October, Chisholm confirmed discussions are underway with dozens of shareholders in the energy industry.

”We do see issues for competition,” he said. “Any objective, independent, thorough investigation would show that’s the case.”

The CMA will commence operations April 1 and take over current inquiries into allegations that the UK’s top six energy firms – SSE, RWE, npower, E.ON, Scottish Power, EDF Energy and British Gas – are abusing their dominance and hiking power costs for consumers. The CMA will spearhead the case after the Office of Fair Trading merges into the Competition Commission to form the new authority.

Full Content: Telegraph

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.