Electricity Regulation (Amendment) Bill 2024

Public bill · Private Member · Introduced

The proposed changes would give the Commission for the Regulation of Utilities more power to watch over electricity and gas prices, track hedging practices, and spot anti-competitive behaviour by suppliers. It would also require more regular reporting on prices, market conditions and network compliance, and place more weight on protecting consumers and energy affordability in the regulator’s decisions. This matters because it is aimed at making the energy market more transparent, fairer and easier to scrutinise.

Formal long title

Bill entitled an Act to amend the Electricity Regulation Act 1999 to give the Commission for the Regulation of Utilities (CRU) the legislative remit to effectively monitor wholesale and retail prices in the energy market; to increase the frequency and level of reporting; to effectively monitor and regulate hedging practices; to strengthen the Commission's powers to monitor anti-competitive behaviour of gas and electricity suppliers; to expand the Commission's role in consumer protection; to strengthen the Commission's power to address energy affordability; and to provide for related matters.

Last updated 14 November 2024