U.K. Ready to Act on Gas Price Fixing as Abuse Probe Starts
This article is for subscribers only.
The U.K. government said it’s prepared to legislate to clamp down on wholesale natural-gas trading should price-fixing allegations prove true.
The Financial Services Authority, or FSA, is investigating claims last month by the price-reporting company ICIS Heren that “unusual trading activity” may have affected gas prices, according to a statement yesterday. Energy Secretary Ed Davey said he’s asked regulators whether they need more authority.