Utilities Act 2000 Elizabeth II. Chapter 27

Format:

Corporate Author:

Great Britain

Publisher:

TSO (The Stationery Office)

The Act gives effect to the Government's final proposals for the gas and electricity sectors in England, Scotland and Wales, excluding Northern Ireland. It establishes a single Gas and Electricity Markets Authority in place of the twin posts of Director-General of Gas Supply and Director-General of Electricity Supply. It aims to achieve a fair balance between the interests of consumers and shareholders by setting new duties and powers for the Authority and establishing an independent Gas and Electricity Consumer Council. It contains provisions to enable the gas and electricity sectors to make an appropriate contribution to the Government's social and environmental objectives. The Act updates the regulatory regime for the gas and electricity sectors to take account of and facilitate further competition, and to reflect increasing convergence between the two sectors and provides the powers needed to bring in new electricity trading arrangements. It also contains provisions to make regulation more transparent and predictable.