UK Tries to Increase Efficiency with Shale Gas and Transparency

UK energy security came under the spotlight on Wednesday as regulator Ofgem unveiled new rules for the six main energy suppliers. Twenty-five economists signed a letter to support the idea of shale gas in northern England.

Ofgem ramped up scrutiny of the so-called Big Six, adding new rules to make them more accountable. From March 31, British Gas, SSE, EDF, RWE npower, E.ON and Scottish Power will be called to publish long-term wholesale power prices twice a day.

“Now we are also breaking down barriers to competition for new entrant suppliers,” Ofgem CEO Andrew Wright said in a statement released on Wednesday.

Also on Wednesday, a group of 25 economists wrote to the Financial Times, voicing their concerns about the long-term growth of the country. The group claimed that shale gas production would create jobs and boost tax revenues, also supporting local manufacturers.