Theycentreontheclaimofthaton28thSeptemberwheninformationwasbeinggatheredtodeterminewholesalegaspricestradersmadeunrealisticbidstobolstertheirownpositions。

Inthiscase,thebidsweredesignedtopushdownthewholesalepriceandthereforewouldnothaveimpactedretailprices。

TheclaimhasechoesoftheLibor-riggingscandalthatengulfedthefinancialsector。

AlloftheUKsbigsixenergysuppliershavenowreleasedstatementsdenyinginvolvement。

ThewhistleblowerwasSethFreedman,whoworkedatICISHeren,acompanythatpublishesenergypricereports。

They[thepowercompanies]aretellingyou:Look,inordertomakeourprofitsandcoverourcostsandsoon,wehavetogiveapricetoretailcustomerswhichreflectsthecosttous,hetoldtheBBC。

Butifyoucanttrustthemarketatawholesalelevel,itbecomesacrisisofconfidence。

Peopleatretaillevelarejustthinking,Idonttrustthesecompaniesanditneedstobescrutinised,headded。

Centricasaidithadveryrobustgovernanceandcompliancepolicies,whichregulateitsmarketparticipationandbehaviourandwerereviewedonaregularbasis。

Centricastradersareprohibitedfromprovidingpriceinformationtopricereportingagencies,itsstatementsaid。

Itsimportanttostressthatthewholesalegasmarkethasmorethan50participants,notjustenergysupplycompanies,handlinghundredsoftradeseveryday。

TheFSAconfirmedthatithadreceivedinformationinrelationtothephysicalgasmarketandwillbeanalysingtheinformation。

Ofgemalsosaidithadreceivedinformation,addingitwouldconsidercarefullyanyevidenceofmarketabusethatisbroughttoourattentionaswellasscopeforactionunderallourotherpowers。

MM

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