U.K.'s Big Six Utilities Stifle Competition: Report

Law360, New York (January 14, 2008, 12:00 AM EST) -- The United Kingdom's six leading gas and electricity providers have reportedly colluded to choke competition and hike up prices to rake in more than $8.8 billion in combined profits, a newspaper investigation has revealed.

The “big six” energy companies have now been hit with demands that they be referred to the U.K. Competition Commission after their executives acknowledged that they have been holding secret meetings to discuss market strategy, the Sunday Times reported, citing its own inquiry, on Sunday.

Industry insiders told the Sunday Times that...
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