Statement on NETA’s First Birthday
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.