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OFGEM
, type = Non-ministerial government department , nativename = , nativename_a = , nativename_r = , logo = Ofgem logo.svg , logo_width = 124px , logo_caption = , seal = , seal_width = , seal_caption = , picture = , picture_width = , picture_caption = , formed = , preceding1 = Office of Electricity Regulation , preceding2 = Office of Gas Supply , dissolved = , superseding = , jurisdiction = Great Britain , headquarters = 10 South Colonnade, Canary Wharf, London, , region_code = GB , coordinates = , employees = 1,187 , budget = For 2015–2016 Parliament approved through the Main Estimate a gross resource budget of £89.5 million , minister1_name = Grant Shapps , minister1_pfo = Secretary of State for Business, Energy and Industrial Strategy , chief1_name = Jonathan Brearley , chief1_position = Chief Executive , chief2_name = , chief2_position = , chief3_name = , chief3_position = , chief4_name = , chief4_position = , chief5_nam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Six Energy Suppliers
The Big Six were the United Kingdom's largest retail suppliers of gas and electricity, who dominated the market following liberalisation in the late 1990s. By 2002, six companies – British Gas, EDF Energy, E.ON, RWE npower, ScottishPower and SSE – had emerged from the 15 former incumbent monopoly suppliers (the 14 regional public electricity suppliers and British Gas). In 2008, the Big Six still had over 99% of domestic and small business customers. They were vertically integrated in electricity, owning sufficient generation capacity to supply all their customers; while in gas, only Centrica (British Gas) owned production facilities. By the third quarter of 2019, after efforts by the regulator Ofgem to promote competition, their combined share in Great Britain was 70% for electricity supply and 69% for gas. The purchase of SSE's retail business in January 2020 by OVO Energy, a competitor founded in 2009, marked the end of the original Big Six. The companies Source: 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gas Act 1986
The Gas Act 1986 (Chapter 44) created the framework for privatisation of the gas supply industry in Great Britain. This legislation would be replacing the British Gas Corporation (government or state ownership) with British Gas plc (private ownership). The Act also established a licensing regime, a Gas Consumers’ Council, and a regulator for the industry called the Office of Gas Supply (OFGAS). Background The liberalisation and privatisation of the energy markets in the United Kingdom began under the tenure of Margaret Thatcher’s Conservative Government in the 1980s. This has been called the Thatcher-Lawson agenda, due to the key role of Nigel Lawson, the Chancellor of the Exchequer (1983–89) in the Thatcher ministry. There was a perceived need to reduce the inefficient state control of the energy sector and to introduce a market-oriented system through privatisation. Access to the energy market would be given to more organisations, improving competition and reducing p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Act 1989
The Electricity Act 1989 (c. 29) provided for the privatisation of the electricity supply industry in Great Britain, by replacing the Central Electricity Generating Board in England and Wales and by restructuring the South of Scotland Electricity Board and the North of Scotland Hydro-Electric Board. The Act also established a licensing regime and a regulator for the industry called the Office of Electricity Regulation (OFFER), which has since become the Office of Gas and Electricity Markets (OFGEM). Background The liberalisation and privatisation of the energy markets in the United Kingdom began with the Margaret Thatcher government in the 1980s. This has been called the Thatcher-Lawson agenda, due to the key role of Nigel Lawson the Chancellor of the Exchequer (1983–89) in the Thatcher cabinet. The Government recognised that the electricity industries in Europe and the United States operated successfully under private ownership. In contrast the Central Electricity Generatin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-ministerial Government Department
Non-ministerial government departments (NMGDs) are a type of department of the United Kingdom government that deal with matters for which direct political oversight has been judged unnecessary or inappropriate. They are headed by senior civil servants. Some fulfil a regulatory or inspection function, and their status is therefore intended to protect them from political interference. Some are headed by a permanent office holder, such as a Permanent Secretary or Second Permanent Secretary.Government Departments and Agencies , Government, Citizens and Rights, DirectGov. Overview The status of an NMGD varies considerably from one to another. For example:[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Gas
British Gas (trading as Scottish Gas in Scotland) is an energy and home services provider in the United Kingdom. It is the trading name of British Gas Services Limited and British Gas New Heating Limited, both subsidiaries of Centrica. Serving around twelve million homes in the United Kingdom, British Gas is the biggest energy supplier in the country, and is considered one of the Big Six dominating the gas and electricity market in the United Kingdom. History 1812–1948 The Gas Light and Coke Company was the first public utility company in the world. It was founded by Frederick Albert Winsor and incorporated by Royal Charter on 30 April 1812 under the seal of King George III. It continued to thrive for the next 136 years, expanding into domestic services whilst absorbing many smaller companies including the Aldgate Gas Light and Coke Company (1819), the City of London Gas Light and Coke Company (1870), the Equitable Gas Light Company (1871), the Great Central Gas Consum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Controls
Price controls are restrictions set in place and enforced by governments, on the prices that can be charged for goods and services in a market. The intent behind implementing such controls can stem from the desire to maintain affordability of goods even during shortages, and to slow inflation, or, alternatively, to ensure a minimum income for providers of certain goods or to try to achieve a living wage. There are two primary forms of price control: a price ceiling, the maximum price that can be charged; and a price floor, the minimum price that can be charged. A well-known example of a price ceiling is rent control, which limits the increases that a landlord is permitted by government to charge for rent. A widely used price floor is minimum wage (wages are the price of labor). Historically, price controls have often been imposed as part of a larger incomes policy package also employing wage controls and other regulatory elements. Although price controls are routinely used by go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electricity Market
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated and tightly regulated "traditional" electricity market with multiple competitive markets for electricity generation, transmission, distribution, and retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service (like sewerage) into a tradable good (like crude oil). As of 2020s, the traditional markets are still common in some regions, including large parts of the United Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
BG Plc
BG Group plc was a British multinational oil and gas company headquartered in Reading, United Kingdom. On 8 April 2015, Royal Dutch Shell announced that it had reached an agreement to acquire BG Group for $70 billion, subject to regulatory and shareholder agreement. The sale was completed on 15 February 2016. Prior to the takeover, BG Group was listed on the London Stock ExchangeBG.L and was a constituent of the FTSE 100 Index. In the 2015 Forbes Global 2000, BG Group was ranked as the 583rd largest public company in the world. Prior to its acquisition by Shell, BG Group had operations in 25 countries across six continents and produced around 680,000 barrels of oil equivalent per day. It had a major liquefied natural gas (LNG) business and was the largest supplier of LNG to the United States. As at 31 December 2009, it had total proven commercial reserves of of oil equivalent. History Origins The company was created in 1997 when British Gas plc divested Centrica and became B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centrica
Centrica plc is a British multinational energy and services company with its headquarters in Windsor, Berkshire. Its principal activity is the supply of electricity and gas to consumers in the United Kingdom and Ireland. It is the largest supplier of gas to domestic customers in the United Kingdom, and one of the largest suppliers of electricity, operating under the trading names Scottish Gas in Scotland and British Gas in England, Wales and Northern Ireland. It owns Bord Gáis Energy in Ireland. The company also provides household services including plumbing. Centrica is listed on the London Stock Exchange, and is a constituent of the FTSE 100 Index. History Predecessors The company has its historical origin in the Gas Light and Coke Company which incorporated in 1812. Over the next 137 years, it grew by acquisition of other gas companies to become the primary supplier of gas to Greater London. In 1949, under the Gas Act 1948 the ownership of the company transferred ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a busine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Electricity Supplier
Public electricity suppliers (PES) were the fourteen electricity companies created in Great Britain when the electricity market in the United Kingdom was privatised following the Electricity Act 1989. The Utilities Act 2000 subsequently split these companies between distribution network operators and separate supply companies. In England and Wales the Central Electricity Generating Board had been responsible for the generation and transmission of electricity, with the twelve area electricity boards (AEBs) formed under the Electricity Act 1947 responsible for the distribution and supply of electricity to consumers. In Scotland the structure was different, with all aspects of generation, transmission, distribution and supply being carried out by two vertically integrated companies. History England and Wales On 31 March 1990 the AEBs were changed into independent regional electricity companies (RECs) and the CEGB was split into four, three generation companies and the Nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Gas Plc
British Gas plc was an energy and home services provider in the United Kingdom. It was formed when the British Gas Corporation was privatised as a result of the Gas Act 1986, instigated by the government of Margaret Thatcher and superseding the Gas Act 1972. History The company was formed when the Conservative Government privatised the British Gas Corporation in December 1986, with its shares floated on the London stock market. To encourage individuals to become shareholders, the offer was intensely advertised with the "If you see Sid...Tell him!" campaign. The privatisation was criticised by Baron Gray of Contin who said it broke a key part of the Conservative's 1983 manifesto that the party would not simply replace one monopoly with another; at the time, British Gas was the only organisation that could supply gas to anyone in the country. In June 1991, chairman Robert Evans Robert Evans (born Robert J. Shapera; June 29, 1930October 26, 2019) was an American film produc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
