Ofgas cuts household gas bills but softens price control proposals
Gas industry regulator Ofgas has toned down strong price control proposals in a move to avert a Monopolies & Mergers Commission inquiry. Household bills will fall by an average of £28 as a result of the move.
Ofgas director-general Clare Spottiswoode, called for one-off transportation price cuts of 20% next year, followed by annual reductions of 2.5% in the following four years. This was the low end of the range of possible cuts. However, British Gas claimed operating cash flows at its TransCo pipeline monopoly would be cut by £350m a year.
- The Daily Telegraph 22/08/96 page 20, page 21
- Financial Times 22/08/96 page 1, page 7, page 17, page 18, page 38
- The Times 22/08/96 page 23, page 25
- The Independent 22/08/96 page 18, page 19
- The Guardian 22/08/96 page 2, page 22
Gas industry regulator Ofgas has toned down strong price control proposals in a move to avert a Monopolies & Mergers Commission inquiry. Household bills will fall by an average of £28 as a result of the move.
Ofgas director-general Clare Spottiswoode, called for one-off transportation price cuts of 20% next year, followed by annual reductions of 2.5% in the following four years. This was the low end of the range of possible cuts. However, British Gas claimed operating cash flows at its TransCo pipeline monopoly would be cut by £350m a year.
The Daily Telegraph 22/08/96 page 20, page 21
Financial Times 22/08/96 page 1, page 7, page 17, page 18, page 38
The Times 22/08/96 page 23, page 25
The Independent 22/08/96 page 18, page 19
The Guardian 22/08/96 page 2, page 22
