Ofgem threaten to 'break' The Big Six

12 June 2013

Energy Ofgem, regulators of all things energy, have set their stall out in the bid to "break the stranglehold of the big six energy suppliers".

Their measures require large suppliers and generators to trade fairly with smaller firms or face stiff cash penalties.

Not only that, Centrica (British Gas), E.ON, SSE, Npower, EDF and ScottishPower will have to post the prices at which they will buy and sell electricity up to two years in advance.

It seems Ofgem wants the industry to move to simpler tariffs that everyone can understand and introduce more competition into the market in a bid to lower the prices for customers.

Ofgem's Ian Marlee said that the measures should open up the market. Competition isn't a bad thing, right?

He added: "It's not just requiring the big six to actually post prices up to two years in advance, actually it's also forcing them then to sell at those prices if the independent suppliers want to buy at those prices".

TOPICS:   Utilities

13 comments

  • Yog S.
    Simple, renationalise one of them and let the others compete with it. Pretty sure with no shareholders and profits it will be most popular.
  • Wavydavy
    They should have never been privatised in the first place - & re-nationalise the Water Companies too
  • Haggis
    Ofcom are about as close to 'breaking the big six' as I am to fucking that blonde on Game of Thrones.
  • Mustapha S.
    Yog - have always thought they should do that with everything utility wise, and perhaps have sort of national bank too where profits are fed back in to roads, hospitals and schools. Naturally, being Govt it will be full of red tape and expensive to run, but at least forces companies to be competitive. Or if not, have some sort of law where companies with a monopoly, like water companies, are only allowed to make a set profit each year, with the rest being paid back as dividends to customers. Ok, we'd have to leave Europe to do that sort of thing, but that in itsself would be good.
  • Mike O.
    My God, some viewpoints in the comments I agree with, am I on the wrong site?
  • Why h.
    1. The problem with nationalising is the government is shit at running things. Maybe via a separate entity that is run as a charity like welsh water 2. This is fucking unlikely. MPs/Lords/people who have an vested interest in making money off energy want to keep the status quo 3. Ofgem is toothless fairy. 4. Big 6 have a lot of money and sway so wont go down fighting and point 2 5. If anything we are moving to more privatisation and this "government interference" proves that profit will always come before any service/fairness/not-ripping-us-off (as we expect) so its not really for our benefit. 6. shareholders are cunts
  • Sicknote
    Not re-nationalize in the bad old days of BR and British Coal but more of a Govt owned company trading energy in the same way as the 'big six' offering consumer & business energy tariffs. Mind you, the pay backs and golfing holidays gifted to the upper echelon of Govt mean this would never happen.
  • MartinRH
    @ Mike Oxsore - You too eh? How the f*ck did I find myself here? and who/what/how/when/why /where is "here" anyway?
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