Keith Anderson, Chief Corporate Officer of ScottishPower, said:
“We welcome the proposal for the Competition and Markets Authority (CMA) to undertake an investigation of the energy supply and generation market and will contribute fully to it.
The CMA is the ultimate authority to consider important questions of competition and whether markets operate in the public interest. Now is the time for the acknowledged experts to consider differing perspectives on the market, resolve uncertainties and provide authoritative answers as to whether there are problems and if so, what measures are appropriate to address them.
“It is important that the CMA is now left to get on with its job, free of distraction so that it can conduct a thorough review and produce authoritative answers. It will be equally important not to pre-empt this evidence based process, in order to retain the confidence of investors during the period of the investigation.
“It is crucial that we have an energy market which commands the trust of the consumer and gives generators and suppliers, the regulatory and political certainty needed to provide the very considerable investment in capacity that the UK requires this decade.”