2349444
Description
Mind Map by Miles Drakeford, updated more than 1 year ago
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Created by Miles Drakeford
about 9 years ago
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Majour issues raised in the background to the energy industry
- Value for money
- Dealing with information failure
- Reduce the number of tarrifs
- Just four
- Just four
- Compulsory to tell customers
- If theres a cheaper tarif
- Likely bill over 12 months
- If theres a cheaper tarif
- Reduce the number of tarrifs
- Ease of switching suppliers
- normally takes a months
- Ofgem wants one day
- normally takes a months
- Enforcement action
- Fines levied
- Paid to customers facing fuel poverty
- Paid to customers facing fuel poverty
- Fines levied
- Transparency
- Costs, prices and profits
- Helps new smaller firms
- Costs, prices and profits
- Price control
- Told acceptable prices by Ofgem
- Told acceptable prices by Ofgem
- Dealing with information failure
- Security of supply
- Ofgem
- Can't compel them to extra capacity
- Because it'd lie idle for too long
- Because it'd lie idle for too long
- Can't compel them to extra capacity
- EU regulations
- Closing down older powerstations
- Before the end of their life
- Before the end of their life
- Reducing capacity
- Closing down older powerstations
- Ofgem
- Sustainability
- Reducing demand
- Switching away from fossil fules
- Introducing smart meters
- Exact record
- "minute by minute record"
- Exact record
- Ofgem competition
- £50 million prize
- For ways to reduce demand
- Or develop environmentally friendly methods
- £50 million prize
- Reducing demand
- Implementing government regulations
- Reducing emmisions
- 1990-2050 80% reduction
- 1990-2050 80% reduction
- Renewables obligation
- growing proportion of electricity from renewable sources
- growing proportion of electricity from renewable sources
- Feed in tariff system
- Buy electricity from small scale producers
- Buy electricity from small scale producers
- Energy Companies Obligation
- Reduce domestic consumption
- Reduce domestic consumption
- Warm House Discount Scheme
- Give discounts of £300 million
- Give discounts of £300 million
- Reducing emmisions
- Ofgem assessment
- How affective is it?
- CMA shows weaknesses
- "Ofgem may have unwittingly contributed to the problem of weak competition and high prices"
- "Ofgem may have unwittingly contributed to the problem of weak competition and high prices"
- CMA shows weaknesses
- Profits of the bug six have increased
- How affective is it?
- CMA
- Competition and Market Authority
- Responsible for protecting customer rights
- Increase contestability
- Outline the possible reasons of harm
- Vertical intergration
- Big six produce as well as supply
- Big six produce as well as supply
- Dominance of the big six
- Tacit collusion
- Tacit collusion
- Unwillingness of customers to switch
- Weak incentives
- Weak incentives
- Vertical intergration
- Responsible for protecting customer rights
- Competition and Market Authority
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