OfReg launches an anti-competition investigation into allegations leveled in the propane market.
In a statement late Friday (27 July) OfReg said it started the inquiry based on a complaint against Home Gas Limited. It said the company is deemed to have significant market power or influence because of the monopoly position it has held over a half a century. OfReg says the complaint relates to allegations of anti-competitive practices after the introduction of competition in the propane market, that competition being Clean Gas.
Duke Munroe, Director of Fuels (Market) at OfReg explained the nature of the investigation. “What we are seeking to determine in this investigation is whether there is evidence that the market forces in the propane market are sustainable in the medium to long-term for healthy and perpetual competition in that space. Whether we are dealing with monopolies or pure competition, we have to ensure that the welfare of customers and of the overall economy benefits,” he said.
OfReg is asking members of the public to come forward if they believe they may have been impacted in some way by the recent changes in the
We should note Clean gas is partially owned by Hurley’s Media managing director Randy Merren, Cayman 27’s parent company.
To read the statement click: PRESS RELEASE LPG COMPETITION FINAL