Guardian: Six big questions that the British energy industry must answer

The prospect of unpopular electricity generators being taken to task by no fewer than three regulators has been widely welcomed. But as Terry Macalister reports, there are hard truths to tackle beyond ever-increasing utility bills.

This is the biggest investigation of the British energy markets since privatisation and deregulation began in the 1980s. But the inquiry,triggered last week by a trio of watchdogs led by Ofgem and to be undertaken by the new Competition and Markets Authority (CMA) immediately sparked dire warnings that go to the heart of Britain's energy policy paralysis.

British Gas owner Centrica and a raft of analysts said a probe that could last two years will freeze investment in much-needed power stations and make blackouts more likely. Ofgem and energy and climate change secretary Ed Davey countered that a proper and full investigation would clear the air and rebuild trust among consumers.

But it will take more than a competition probe to restore faith in British energy policy. There are six questions the energy industry needs to answer as it tackles the wider issue of how Britain can modernise and decarbonise its power industry without pushing up prices and driving vast numbers of people into fuel poverty. MORE