THE British electricity industry has hit out at a proposed compromise for a single European electricity market, saying it would slow competition and deprive customers of cheaper prices.

Electricity Association president, Mr David Jeffries, said that the compromise, which is up for a vote of EU energy ministers tomorrow, was "extremely disappointing".

The compromise allows EU countries to open just 24 per cent of their electricity market to competition in 1999, rising to 33 per cent after six years.