Barclays Bank and four of its traders have been ordered to pay $453 million (£298m) by the US energy regulator for allegedly manipulating electricity prices. The bank must pay $435 million (£286m) in penalties to the US Treasury within 30 days, one of its traders must pay $15 million (£9.87m) whilst the other three $1 […]
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 […]
Some traders are installing the wrong insulation in homes with “inappropriate materials”, according to the Office for Fair Trading (OFT). The OFT says the Government must improve consumer protection, as it carried out the research after a high level of consumer complaints about home insulation. They received complaints that some traders are not always installing […]
Professor Wolf Ketter explains why robot avatars could soon be helping you trade energy. But will they take over?
Two of Europe’s largest power exchanges are teaming up to create a new spot market. Nord Pool Spot and EPEX SPOT say that their new joint venture, as yet unnamed, could make it easier for traders and help customers get better prices as a result. The new platform will allow traders to buy and sell […]