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Regulators investigating UK gas market
Posted by
Bill Harvest
,
13 November 2012
·
727 views
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Energy Secretary Ed Davey has said that he was “extremely concerned” about the allegations that wholesale gas prices may have been manipulated.
The claims that were made by a whistblower are being investigated by the Financial Services Authority (FSA) and Ofgem, the industry regulator.
The UK’s big six energy suppliers (British Gas, E.ON, EDF, Npower, SSE and Scottish Power) have denied any involvement.
Angela Knight, the chief executive of Energy UK, the body that represents the companies, is quoted by the BBC to have said that its members would co-operate fully to rebuild trust.
She said that “this is a very serious issue which must be investigated swiftly. The gas market is an international one with many overseas companies trading on it, as well as organisations that are not energy companies.”
The claims that were made by a whistblower are being investigated by the Financial Services Authority (FSA) and Ofgem, the industry regulator.
The UK’s big six energy suppliers (British Gas, E.ON, EDF, Npower, SSE and Scottish Power) have denied any involvement.
Angela Knight, the chief executive of Energy UK, the body that represents the companies, is quoted by the BBC to have said that its members would co-operate fully to rebuild trust.
She said that “this is a very serious issue which must be investigated swiftly. The gas market is an international one with many overseas companies trading on it, as well as organisations that are not energy companies.”
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