Then he pulled the plug on an emerging retail electricity market by imposing a four-year price freeze.

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But the reason British Energy is losing so much money is that the price of electricity on the wholesale market has dropped 40% in the past four years.

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The price volatility in this market and the dependance of it now for electricity production will severely hamper the economy as natural gas prices rise due to increased costs of electricity.

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In fact, the Committee on Climate Change warns that relying heavily on gas for future electricity supplies would leave households vulnerable to higher bills in the long run as the price of gas on the international market is volatile.

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Changes in electric use by demand-side resources from their normal consumption patterns in response to changes in the price of electricity, or to incentive payments designed to induce lower electricity use at times of high wholesale market prices or when system reliability is jeopardized.

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