Fairness in Retail Energy Markets? Evidence from the UK
Fairness in Retail Energy Markets? Evidence from the UK A report by the Centre for Competition Policy Centre for Competition Policy University of East Anglia Norwich Research Park Norwich, Norfolk NR4 7TJ competitionpolicy.ac.uk Fairness in Retail Energy Markets? Evidence from the UK First published 2018 Copyright © 2018 Edited by David Deller and Catherine Waddams Price with: Elizabeth Errington, Amelia Fletcher, Tom Hargreaves, Michael Harker, Noel Longhurst, David Reader and Glen Turner The authors have asserted their right to be identified as authors of this work in accordance with the Copyright, Designs and Patents Act 1988. All rights reserved. Except where permitted by law no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form of by any means, electronic, mechanical, photocopying, recording or otherwise, without our due acknowledgement. Design: Naked Marketing (nakedmarketing.co.uk) Fairness in Retail Energy Markets? Evidence from the UK Edited by David Deller and Catherine Waddams Price with: Elizabeth Errington, Amelia Fletcher, Tom Hargreaves, Michael Harker, Noel Longhurst, David Reader and Glen Turner 4 Foreword Dermot Nolan, CEO, Ofgem The concept of fairness is now commonly used with regard to energy. As UK energy prices have risen over the last 10 years, public concern over the impact of this has also risen. Politicians, regulators and companies emphasise that prices must be fair, that there must be fair competition between different technologies, or that they must receive a fair hearing. In Ofgem’s recent proposal for a cap on retail energy prices, we argued that the cap would ensure that customers would pay a fair price for their energy.
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