Oxford, U.K. — (METERING.COM) — November 10, 2006 – A report by Oxford Economic Research Associates (OXERA) titled Energy Market Competitiveness Rankings for the EU and G7, reveals that the U.K.’s electric and gas markets are the most liberalized across all the EU and G7 countries.
OXERA is an independent economics consultancy that was tasked by the Department of Trade and Industry to establish the degree of competition in electricity and gas markets in these countries. The DTI has had a Public Service Agreement target to ensure that the U.K. ranks among the three most competitive energy markets in the EU and G7 since 2002, and the latest figures from OXERA show that it has maintained its leading position. The U.K. scored 9.2 out of 10 on the competitiveness index; Finland was second with a score of 8.6.
Oxera collated a comprehensive dataset combining information available from the European Commission’s benchmarking reports on the electricity and gas markets, national regulators’ reports and websites, Eurostat, and individual companies’ reports. This data collection exercise encompasses 28 countries: the 25 EU countries (including the U.K.) and the three G7 countries outside the EU – the USA, Canada and Japan.
The report’s data also shows that the U.K. is likely to continue to lead the field for the rest of the decade.