Oil market urgently needs ‘official watchdog with teeth’

The oil market urgently needs an “official watchdog with teeth” to ensure there is no market manipulation and UK families and businesses pay a fair price for fuel. That’s the suggestion from Quentin Willson, Campaign Leader of FairFuelUK, in response to the recent revelation over alleged price collusion, which led to BP and Shell offices […]

Davey quizzed on Libor-like gas pricing “racket”

Energy Secretary Ed Davey this afternoon said it is “totally unacceptable” for people to profit from manipulating energy prices, declaring that if there is a “racket” in the UK gas market then the “full force of the law” will be brought down on the guilty parties. He made the remarks when taking questions in the […]

Whistleblower flags up alleged gas market fixing

The watchdog Ofgem and the Financial Services Authority (FSA) are investigating allegations that energy companies regularly manipulate the gas market after a whistleblower informed them of “unusual” gas deals. The allegations have prompted Energy Secretary Edward Davey to say today he is “extremely concerned” and he will make a statement about this in the Commons […]