EDF chief blames green policy costs for driving up energy bills October 8, 2013 THE BOSS of EDF yesterday blamed government policies for raising gas and electricity bills, rather than energy companies reaping increasingly large profits. Vincent de Rivaz, chief executive of the big six energy supplier, told a conference in London that around half of the increase in bills is due to higher wholesale costs, a quarter is [...]
How we’re revitalising markets for economic growth April 2, 2014 MARKETS when they work well are incredibly powerful. When we drive around we don’t have to think about the supply chain needed to produce the 30,000 or so parts that go into a modern car. As we shop for groceries we don’t need to consider what it takes to assemble fresh food from dozens of [...]
Watchdog drops most of hospital break-up order April 2, 2014 THE NEW competition watchdog has rowed back on break-up plans for London’s private hospitals, in a surprise decision that has been welcomed by some companies but left others baffled. After two years of investigations the Competition and Markets Authority, known until this week as the Competition Commission, said one or two London hospitals must be [...]
Who’s afraid of a little energy market competition? March 24, 2014 The debate around competition in the energy market is hotting up. The regulators are due to give their assessment of the market later this week, along with a possible recommendation to refer the investigation to the Capital Markets Authority (CMA). Consumer group Which? and the Federation of Small Businesses have written a joint letter [...]
Complaints about energy companies surge by 224pc April 7, 2014 The bad news just keeps on coming for Britain's energy companies. The number of complaints about energy providers has surged by 224 per cent for the first three months of 2014, according to the sector's ombudsman. Complaints from distressed customers rose from 3,277 for the first three months of 2013 to 10,628 for the same [...]
Scottish independence could impact results says Centrica March 27, 2014 Energy giant Centrica has warned of the consequences of a yes vote in Scotland's independence referendum as well as political interference in the energy market. The company made the comments in its annual financial report for the year to 20 February 2014. In the event that Scotland became independent parts of Centrica's upstream assets would [...]
Energy wars spark UK blackout fears March 28, 2014 OFGEM’S decision to refer the UK’s energy market for a full-scale investigation will put the UK at a higher risk of blackouts, the industry warned yesterday. The regulator has asked the new Competition and Markets Authority to probe competition in the retail energy market, following months of heightening political pressure to bring down customers’ bills. [...]
Energy wars spark UK blackout fears March 28, 2014 OFGEM’S decision to refer the UK’s energy market for a full-scale investigation will put the UK at a higher risk of blackouts, the industry warned yesterday. The regulator has asked the new Competition and Markets Authority to probe competition in the retail energy market, following months of heightening political pressure to bring down customers’ bills. [...]
Competition watchdog set to double cartel investigations October 30, 2013 THE NEW competition authorities should be able to double the number of anti-trust investigations carried out thanks to better resources, a leading law firm has forecast. The Competition and Markets Authority will begin work next year, replacing the Office of Fair Trading and the Competition Commission. And according to analysis from Pinsent Masons, a 31 per cent hike [...]
Currie to head antitrust body … July 17, 2012 FORMER Ofcom boss Lord Currie has been chosen as the first chair of the Competition and Markets Authority – the UK’s new antitrust regulator. Currie will earn £185,000 a year for the three-day a week commitment, serving as chair of the body for a four-year term beginning this summer. The CMA is part of the government’s [...]