| 29 March 2012 |
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Price Control Of Phoenix Gas Referred To CC |
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Following the rejection of the Utility Regulator’s price control determination and proposed licence modifications by Phoenix Natural Gas Ltd (PNGL) on 6 February, the Utility Regulator have referred the PNGL price control licence conditions to the Competition Commission.
The Competition Commission will assess whether the PNGL price control licence conditions operate against the public interest and is expected to report within six months.
The Ultility Regulators price control determination would lead to lower business and domestic consumer prices. For larger business consumers this would mean an estimated ongoing annual saving of tens of thousands of pounds on gas bills. The decision would also mean that, for the average domestic consumer, there would be a £10 per annum saving on gas bills. Had the Utilty Regulator accepted the PNGL proposals, domestic consumer bills would have been £25 higher per year.
(CD/GK) |
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