Now, however, all that is changing, and rapidly.The big six British and foreign companies (alongside the former state monopoly, British Gas) that bought up the retail energy business after liberalisation in the late 1990s are being challenged by a wave of small, nimble and ambitious new companies.
That it makes sense to them now is a measure of the change wrought by the deregulation of the wholesale-electricity market (allowing utilities to choose a supplier) and the unfolding liberalisation of the retail market (doing the same for consumers).
The services sector, despite some liberalisation (for instance, in retailing) is still underdeveloped.
The liberalisation of FDI in the retail sector held the promise of reversing the image of policy paralysis, and reinvigorating the investment climate.
Over the economy the prime minister is in the camp of reformers who would like to see more liberalisation, in part to encourage investment (in retail, for example).
Bangs and bucks Dormant accounts: a rousing dispute A question of identity Correction: British mortgage debt ReprintsNineteen years after the first tentative steps towards liberalisation, BT still has 60% of the domestic retail market, 73% of the residential fixed-line market and getting on for 90% of the wholesale market.
He admits that, at election time, politicians play to the gallery, but sent an encouraging signal in January by announcing a liberalisation of foreign-ownership rules in banks and retail oil companies.The privatisation process started in 1999 is likely to speed up this year as the government takes advantage of the stockmarket boom.
Britain, which began its liberalisation a decade ago, is leading the way in Europe; last week, it threw its retail electricity market open to full competition.The industry is starting to see the emergence of an entirely new sort of energy company, says one analyst: the "integrated gas major".
Assuming a gradual liberalisation, about 20% of the market then will be controlled by organised retail, predicts Technopak, leaving 80% still in the hands of the microbusinesses.Foreign supermarkets will not have an easy ride if India does lift the restrictions on their entry.
Since the liberalisation of India's economy in 1991, emerging sectors, such as organised retail, have required global talent to develop the business and train the local workforce.
