Office of Gas and Electricity Markets: Annual Report (House of Commons Papers)

This latest annual report from OFGEM covers the period 1 April 2002 to 31 March 2003.

The primary aim of this organisation is to encourage competition in the markets for gas and electricity.

Under the auspisces of the Competition Act, OFGEM acts as a regulator, in matters of price and supply.

This period of the annual report covers the first year review of the new electricity trading arrangements, which by March 2003, had contributed to boosting business competitiveness in Britain by £1.8 billion; modifications to industry codes; the development of legislation and measures tp create British-wide electricity trading and transmission arrangements; new long term gas entry capacity auctions; and promotion of offshore arrangements.