Economics class: Collapse of Bulb highlights failings of UK’s retail energy sector
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Competition, regulation, price controls
Click to read the article below and then answer the questions:
Distinguish between nationalisation and privatisation
With reference to the charts, compare the price of electricity and gas February-October 2021
Explain how the market structure has changed in the energy industry as the crisis has unfolded
‘Suppliers are bound by a price cap . . . which has restricted their ability to pass on the rising wholesale energy costs to consumers.’ Using a demand and supply diagram(s), analyse why ‘Bulb became the 23rd victim of the sharp rise in energy prices since the summer’
Gavin Clarke, Emmanuel College
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