LONDON--U.K. Gas and Electricity regulator, OFGEM, said
Wednesday it proposes to establish a more level playing field so
independent suppliers can compete effectively with the big six, in
a move to increase competition and address issues of fairness and
transparency.
MAIN FACTS:
-Big six suppliers and largest independent generators must trade
fairly with small suppliers or face financial penalties.
-Big six suppliers will have to post the prices at which they
buy and sell wholesale electricity on power trading platforms up to
two years in advance.
-New license conditions will be backed by Ofgem's powers to fine
companies if they are in breach.
-Big six suppliers are: British Gas Centrica, EDF Energy, E.ON,
RWE Npower, Scottish Power and SSE PLC.
-Write to Ian Walker at ian.walker@dowjones.com
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