What has happened to price limits since privatisation?
Price limits were first set by the Government in 1989 for the period 1990 to 2000. During this period price limits were on average over 5% a year above inflation. We set new price limits of about 1% on average above inflation in 1994 for the period 1995 to 2000. We reset price limits in 1999 for the period 2000 to 2005. Over this period price limits fell by about 2%. We published price limits for the period 2005 to 2010 on 2 December 2004. On average these mean an increase of 4.2% per year for five years.
Periodic review 2004
