Posted on: 29/08/2017
Britons get a better deal than their European neighbours when it comes to the cost of electricity, a think tank has said.
The Centre for Policy Studies (CPS) used data from the European Union’s (EU’s) Eurostat agency to compare the cost of electricity.
It found only Finland and France had cheaper average prices between 2007 and 2016.
The CPS said the UK’s low prices were due to higher levels of competition between the “big six” providers, while other EU countries only have two, three or four major players.
The research came after Centrica increased its prices.
Stefano Merlo, a CPS economic research intern, said: “The last price rise and the follow up statements by angry commentators should not conceal the more general picture: in the past 10 years, the regulatory framework mimicking competitive forces has provided the right kind of incentive to suppliers.
“UK citizens are on average getting a better deal than their European neighbours.”