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Real or not – gas market manipulation could be the start of a worrying...

The FSA and Ofgem have launched an investigation into the alleged manipulation of the NBP wholesale gas price by one or more of the UK Big 6 following claims from a whistleblower published in the media. All have categorically stated that they take no part in market manipulation. The UK public have up-until this point been fairly acquiescent as their energy bills have risen and complaints have been muted rather than expressly vocal. However, the Big Six should not take that as a sign that there is no discontent as a rejuvenated Ofgem/FSA along with mounting political pressure and upcoming energy market reforms place considerable downside risk upon them.