Newcomers welcome in the energy market, says Labour

THE LABOUR PARTY has promised to end the domination of the UK’s “big six” energy suppliers if it wins re-election next month.

At the launch of its “green manifesto” yesterday, Labour fleshed out its plans to promote competition in the energy sector and encourage progress to a low-carbon economy.

It said it would open up the retail energy market to new entrants in order to give consumers greater choice.

Labour said: “We are prepared to legislate to ensure greater competition in energy supply. We will consider measures such as limiting the ability of energy companies to generate electricity solely for themselves and reducing the barriers to the changing of licence conditions.”

Ofgem said earlier this year that it was considering reforming the power market by forcing vertically-integrated utilities to sell some of their output to independent suppliers.

The major players in Britain’s power market are Scottish and Southern Energy, Centrica, RWE npower, EDF Energy, EON UK, and Iberdrola’s Scottish Power.