Tesco, Sainsbury’s coal supplier fined £3.4m for rigging bids

CPL and Fuel Express admitted to rigging competitive tenders to supply the two supermarket chains

DECC threatens jail for rigging energy market

Anyone found guilty of rigging wholesale gas and electricity prices could face up to two years in jail under new proposals unveiled today. The Government wants to introduce new sanctions to protect consumers from any unfair practices and give regulators new powers to prosecute people suspected of abusing the energy market. Under the proposals, it […]

Unite official Stephen Deans resigns from Grangemouth

The official from the Unite union at the centre of the Grangemouth industrial dispute has resigned from his job. Stephen Deans had previously been suspended following which Unite members voted for strike action over his treatment, leading to the temporary shutdown of the plant. It was on the cusp of closing last week, which would […]

US bank to pay $410m to settle power rigging probe

A US bank is to pay $410 million (£270.8m) to settle allegations it manipulated energy markets in California and the Midwest from September 2010 to November 2012. The US Federal Energy Regulatory Commission (FERC) said JPMorgan Ventures Energy Chase Corporation (JPMVEC) would pay the amount in “penalties and disgorgement” to taxpayers for allegations of market […]

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