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OFGEM SETS OUT ROAD MAP TO OPEN UP ELECTRICITY MARKET FOR INDEPENDENT SUPPLIERS

Energy regulator Ofgem has today set out a detailed road map to open up the wholesale electricity market by setting out three clear objectives which the Big Six suppliers will have to meet. This is to enhance competition and will ensure independent suppliers can buy wholesale power in the range of products they need more easily. The objectives are:

1) Availability of a range of products which support hedging

2) Robust reference prices showing how much power would cost in forward markets

3) Effective short/near term market

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