Ofgem’s Procrustean Bed
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05 Mar 2012
by Stephen Littlechild
As part of its retail market review, Ofgem, the energy regulator for Great Britain, has proposed to limit the number of standard energy tariffs available to customers and to set the standing charge itself. The author argues that the case for these proposals is implausible, and inconsistent with the interests of customers and the promotion of competition.
A
ccording to Greek legend, Procrustes had an iron bed in which he invited passers-by to spend the night. They were told that it had the unique property that it would exactly match the length of whoever lay in it. In the event they were too short or too tall, Procrustes stretched or amputated them to fit.
