Power bills set to drop 20%

Changes in trading for UK electricity could cut power bills for businesses by up to 20% in 2003, says computer services and business consultancy Cap Gemini. The firm runs information technology systems for the Electricity Pool and has helped Britain’s 14 regional electricity companies prepare for deregulation. It predicts obligatory trading through the pool will […]

Changes in trading for UK electricity could cut power bills for businesses by up to 20% in 2003, says computer services and business consultancy Cap Gemini.

The firm runs information technology systems for the Electricity Pool and has helped Britain’s 14 regional electricity companies prepare for deregulation.

It predicts obligatory trading through the pool will be replaced. Generators will strike bilateral contracts with suppliers for most of their output, with the balance traded on new spot or futures markets.

John Geoghegan, Cap Gemini director of utilities, said customers will gain large benefits in five years.