History of Regulation 1986 British Gas privatised : OFGAS Regulator 1989 Electricity industry privatised: OFFER Regulator May 1998 Domestic gas market fully open to competition May 1999 Domestic electricity market fully open to competition June 1999 OFGEM formed October 1999 Introduction of new gas trading arrangements to the wholesale gas markets 2000 Utilities Act: EnergyWatch established March 2001 NETA introduced for wholesale electricity April 2002: Renewables Obligation 2002 Domestic price controls lifted April 2005: BETTA introduced for whole of UK.
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