A PYMNTS Company

UK: Ofgem offers more info on energy competition plans

By  |  February 26, 2014

UK energy regulator Ofgem has released more details regarding its plans to boost competition in the energy industry in hopes of breaking the dominance of the so-called Big Six major players.

Reports say one significant reform would be for Ofgem to require companies to publish wholesale energy costs two years in advance.

Energy companies are also being encouraged to trade fairly with smaller rivals to lower market entry barriers. Earlier wholesale price announcements would allow small companies to more easily acquire wholesale energy to resale.

The new policies will come into effect on March 31 of this year, say reports, but consumer advocates, including Which?, are still hoping for a full market inquiry.

Full Content: BBC

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