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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.
Reports that DECC is seeking Chinese investment in new Nuclear plants should come as no surprise but broader concerns around the financing costs of the UK Nuclear builds remain. The post looks at those factors and impact of existing ventures and presents The Guardian article