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Energy Retail Market

Energy and Climate Change written question – answered on 3rd September 2012.

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Photo of Alan Whitehead Alan Whitehead Labour, Southampton, Test

To ask the Secretary of State for Energy and Climate Change what assessment his Department has made of the effect of electricity market reforms on competition in the energy retail market.

Photo of Charles Hendry Charles Hendry The Minister of State, Department of Energy and Climate Change

The existing large energy companies will have a critical role in delivering the UK's security of supply and decarbonisation objectives. However, they cannot deliver all the investment we need—one of the key aims of electricity market reform is, therefore, to encourage new entrants to the wholesale market and new sources of finance. Wider participation and more diversity are key to a competitive market and we are also keen to see new players in the energy retail market. The Government will act where necessary to tackle any structural barriers to market entry that are not addressed through the actions taken by Ofgem.

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