As speculated earlier this week the UK’s competition and Markets Authority has launched a full investigation into Britain’s energy market amid rising electricity costs and claims of an anticompetitive climate.
According to reports, energy regulator Ofgem announced Thursday that the CMA’s market inquiry will ensure “once and for all” that the industry functions in a competitive environment.
The probe is expected to take 18 months and will focus on the industry’s leading six energy operators, their profits, and possible market entry barriers.
According to Ofgem chief executive Dermot Nolan, there was “near-unanimous support” in referring the industry to the CMA for a full, in-depth investigation.
Full content: Yahoo News
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