Oil Prices

Spot oil prices were just over $40 per barrel in mid June 2020. The crashed after the coronavirus pandemic and subsequent lockdown led to a dramatic cut in demand. Prices fell from almost $70 a barrel in early January to below $20 per barrel in late April 2020. Oil prices peaked in July 2008 at almost $150 per barrel and were in the $100-125 range for much of 2011 to early 2014.…

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The Current Energy Market Reforms in Great Britain

This briefing paper covers the current energy market reforms in Great Britain. Increasing energy costs and the position of the ‘big six’ suppliers has meant that competition in the energy market has been high on the political agenda in recent years. A major review of the marketplace concluded in 2016 with a report from the Competition and Markets Authority. Recommendations from this report are now being implemented whilst the Government has indicated further reforms are being considered.

The energy market in Northern Ireland is separate and is not included here. The focus of the paper is on major reforms and events; it does not provide full coverage of the Competition and Markets Authority (‘CMA’)’s Energy Market Investigation. Members and their staff can get in touch with the Library if they require further briefing on this.…

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Increasing competition in the water industry

This Commons Library Briefing Paper summarises the market reforms set out in the Water Act 2014 relating to increasing competition for the non-household retail market and the upstream market, including progress on implementation and background to the reform. It also summarises recent developments relating to increasing competition in the domestic retail market. …

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