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UK: Ofgem tightens grip on power prices

 |  November 30, 2014

UK energy watchdog Ofgem has revealed proposed pricing ruled that aim to cut costs for energy consumers, say reports.

The price control settlement was published Friday reveal just how tough Ofgem has gotten on the energy industry. As public scrutiny of the UK’s energy industry increases, reports say regulators are seeing more pressure to lower electricity costs.

Five of the top six energy companies saw their price control proposals rejected last November.

The pricing control proposals come as Ofgem announced a full review of the UK’s energy industry earlier this year; the Competition and Markets Authority has similarly been probing the market for evidence of a lack of competition. The CMA is expected to reveal its findings before the end of 2015.

Full content: Financial Times

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