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FSA probe gas price claims

FSA probe gas price claims
The Financial Services Authority and Ofgem are investigating claims of manipulation of UK wholesale gas prices, it has emerged.

The probe follows allegations from a whistleblower that energy firms "repeatedly" manipulated the wholesale price.

Energy Secretary Edward Davey said he was "extremely concerned about the allegations", and insisted the Government would take any abuse of the market "very seriously".

Labour's Caroline Flint said the reports - if true - reveal "shocking behaviour" which must be dealt with "strongly".

"For months Labour has said that customers are getting a raw deal and the gas and electricity companies should be forced to sell the energy they generate into a pool, to open up the market and ensure fairer consumer prices. These reports make the need for action all the more urgent," the Shadow Energy Secretary said.

Green Box: FSA probe gas price claimsClick to open

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