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07/11/2013
Ofgem And FCA Clear Firms Of Gas Manipulation
Ofgem and the Financial Conduct Authority have concluded that no evidence can be found of manipulation of the gas market in Great Britain on 28 September 2012.
Ofgem and the FCA are taking the unusual step of commenting on the work they have carried out into reviewing these specific allegations because of the concerns those allegations raised among energy consumers.
The firms said: "Since becoming aware of these allegations, a detailed analysis of all relevant information has been conducted and face to face meetings with a number of market participants were held by both the FCA and Ofgem. The nature of this work is necessarily detailed, complex and time consuming.
"Ofgem and the FCA always take seriously any allegation of market abuse in energy or financial markets and will consider carefully any evidence that is brought to our attention."
(CD/IT)
Ofgem and the FCA are taking the unusual step of commenting on the work they have carried out into reviewing these specific allegations because of the concerns those allegations raised among energy consumers.
The firms said: "Since becoming aware of these allegations, a detailed analysis of all relevant information has been conducted and face to face meetings with a number of market participants were held by both the FCA and Ofgem. The nature of this work is necessarily detailed, complex and time consuming.
"Ofgem and the FCA always take seriously any allegation of market abuse in energy or financial markets and will consider carefully any evidence that is brought to our attention."
(CD/IT)
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