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U.K.: ‘Libor-like’ allegations of price-fixing in gas market

By  |  November 13, 2012
U.K.: ‘Libor-like’ allegations of price-fixing in gas market

The Financial Services Authority has announced it is looking into the alleged manipulation of gas prices in the U.K. by some energy companies. The FSA’s only confirmation on the matter, however, is that the regulatory body has received information regarding the gas market and that it will be reviewing it. The Guardian was first to report on the alleged price-fixing. According to reports, the FSA as well as Ofgem, the U.K.’s energy market regulator, were both alerted of the allegations on Tuesday. Prime Minister David Cameron has been quoted as describing the allegations as “libor-like” and demands action.

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