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Privatised utilities face unlimited fines for poor performance

BRITAIN'S PRIVATISED utilities are facing the prospect of unlimited fines for poor performance, under new legislation published yesterday by the Government.

The Utilities Bill will also give the regulators of the water, gas, electricity and telecoms industries the power to make utility bosses spell out the link between boardroom pay and quality of service.

The new legislation will also pave the way for reforms to the electricity market which Stephen Byers, the Secretary of State for Trade and Industry, said would cut household bills by 10 per cent or more.

Mr Byers said that the long-awaited legislation would put consumer interests at the heart of utility regulation and make the markets ...

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