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| Statement on
NETA's First Birthday |
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EIUG was in the vanguard of
those calling for reform of the electricity pool, which facilitated
exploitation of market power by a handful of generators resulting in
unnecessarily high prices to customers. As expected, the NETA reforms have
helped substantially reduce wholesale prices, which are now much closer to
those in continental markets. Energy-intensive industries, which spend well
over £1bn on electricity each year, are now benefiting from more
competitive electricity prices (although these benefits are not uniform to all
users). Problems remain on the demand side and for small generators - which are
being addressed - but NETA nevertheless represents a significant net gain for
electricity buyers.
Note: the Energy Intensive Users Group represents the
largest energy consumers in manufacturing sectors such as steel, chemical,
paper, glass makers, etc.
Notes to editors:
- For further information please contact Jeremy Nicholson
on 020 7343 3159 (direct line), 07785 280 568 (mobile) or secretary on 020 7343
3161.
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