U.K. Lawmakers Urge Ofgem To Shore Up Markets

Law360, New York (July 28, 2008, 12:00 AM EDT) -- The United Kingdom's gas and electricity markets are not operating as efficiently as possible, and it's time for the Office of Gas and Electricity Markets and competition regulators to take action, a five-month-long parliamentary inquiry concluded Monday.

The report, conducted by Parliament's Business and Enterprise Select Committee, called on U.K. energy regulatory authority Ofgem to investigate significant flaws in the country's energy markets and refer the sector to the Competition Commission if it could not determine solutions, Dow Jones News reported.

The investigation was launched on...
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