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Fast food: regulation and market failure

The energy market

Is it competitive?

Carmine Ornaghi discusses the energy market and how easy it is to shop around for low energy prices

Christian Schwier/Fotolia

Rising energy bills have long been a source of concern for British families. They recently took centre stage in the political debate when Ed Miliband announced during the Labour Party conference in 2013 that, if he were elected in 2015, he would freeze energy prices for 20 months. It might have been a coincidence — or perhaps they were afraid of the opinion polls that gave Labour a big advantage over the Conservatives — but just a few days after Ed Miliband made this pledge, three of the six biggest energy companies announced an increase in their average bill price of about 10%.

The coalition government has reacted to the wave of complaints from customers by introducing new regulations that will ensure that people are put on the ‘lowest tariff’ by default. Meanwhile, several MPs have encouraged all of us to look for the most attractive deals, in particular from smaller suppliers.

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Fast food: regulation and market failure

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