§ Mr. TylerTo ask the President of the Board of Trade if he will review the role, responsibilities and powers of the regulatory bodies for former privatised industries within his Department's responsibilities to ensure more effective limitation of charges to the consumer; and if he will make a statement.
§ Mr. Neil HamiltonThe powers of the regulators were reviewed in the preparatory work for the Competition and Service (Utilities) Act 1992. The provisions of that Act 549W enhance the powers of the regulators, and facilitate greater competition in gas. The industry regulators have already achieved price reductions in real terms since privatisation of 11 per cent. in BT's average residential bill, and 13 per cent. for domestic gas. Price rises for domestic electricity are limited to the increase in the RPI for the first three years of the new arrangements.