Abstract
At the time of writing a revised tariff price formula is being introduced, covering the activities of British Gas plc. It is, therefore, appropriate to review the status of the regulatory process which began in 1986. The materials 1 which were published by OFGAS on 29 April 1991 outline the changes which are designed to enhance the value for money for the residential gas-user. Benefits will flow to 17 million customers but it is envisaged that the profitability of the monopolist will not be seriously eroded. This will be achieved by consistent improvements in efficiency by the gas supplier and by volume growth in gas use in the future. The development of the gas industry will be dynamic, there is no way that the UK natural gas will become a mature industry. Town gas has been replaced by natural gas and as a result the industry has been rejuvenated.
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