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12/06/2013
New Ofgem Requirements To Shake-Up UK Energy Market
Energy regulator Ofgem has announced new measures to shake-up the UK energy market.
In an effort to “break the stranglehold of the big six energy suppliers", large suppliers and generators will be required to trade fairly with smaller players or face cash penalties.
The six largest companies, Centrica (British Gas), E.ON, SSE, Npower, EDF and ScottishPower, will also be required to post electricity buy and sell prices up to two years in advance.
It is hoped that the new requirements will increase competition in the wholesale energy market.
(MH/CD)
In an effort to “break the stranglehold of the big six energy suppliers", large suppliers and generators will be required to trade fairly with smaller players or face cash penalties.
The six largest companies, Centrica (British Gas), E.ON, SSE, Npower, EDF and ScottishPower, will also be required to post electricity buy and sell prices up to two years in advance.
It is hoped that the new requirements will increase competition in the wholesale energy market.
(MH/CD)
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