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BRIEF-UK's proposed energy price cap could harm competition -Scottish Power
April 26, 2017 / 8:10 AM / 4 months ago

BRIEF-UK's proposed energy price cap could harm competition -Scottish Power

April 26 (Reuters) - Keith Anderson , chief corporate officer of Scottish Power, a unit of Iberdrola SA, said on Wednesday:

* A potential energy price cap proposed by the British government would harm competition and it should set a deadline to abolish standard variable tariffs (SVTs) instead.

* "The government could impose a target that two out of three customers should be on a deal by the end of 2018, and all customers on a deal by the end of 2019, with SVTs abolished once and for all," Anderson said.

* "Any company that fails to meet these targets should have a price cap not only imposed but retained until all their customers are on deals."

* The government has set out plans to hold down the prices households pay for gas and electricity which have doubled in the last decade. Further company coverage: (Reporting by Nina Chestney; editing by Jason Neely)

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