U.K. SCHEDULES REVIEW OF BRITISH GAS PRICES

U.K. regulatory agency Ofgas will review the price formula for gas sales to 17 million household and small industrial and commercial users in Britain. British Gas still has a monopoly on gas supply to consumers using up to 25,000 therms (2.5 billion BTU)/year. The review is said to be the most important single event affecting British Gas and its customers since privatization in 1986. One of the major topics will center on the ability of British Gas to pass through its gas purchase costs.

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