Monday 21 September 2015

UK energy investigation pushed back

A crucial investigation into the UK energy market has been extended.

The Competition and Markets Authority (CMA) was due to release its provisional decision in December 2015 but it now intends to publish it in January 2016, with a view to reaching its final decision by the end of April.

The extension is to give the CMA “sufficient time” to consider the “many detailed responses” received from supplier, consumer groups, government and regulators to the provisional findings published in July.

It revealed millions of Big Six customers are paying too much for their gas and electricity.

Market investigation groups are allowed to extend the deadline by six months in circumstances “where there are special reasons”.

Roger Witcomb, Chairman of the energy market investigation, said: “This investigation - and the measures that could result from it - will have long-standing consequences for millions of customers in an industry of vital importance to the whole country.

“As the most comprehensive investigation into the energy market since privatisation, this is a once in a generation opportunity to shape the future of this market for the better. It’s important that we get it right.”

The Energy and Climate Change Committee has also launched three inquiries into energy efficiency, low carbon energy infrastructure and investor confidence in the industry.