The Energy Secretary, Ed Davey, is all set to make a statement about allegations of gas price fixing in the House of Commons today. And the Financial Services Authority and energy regulator, Ofgem, both say they'll be analysing information too that's come from a whistle-blower who's been talking to The Guardian newspaper. But there's no information yet that any practices have had an effect on the retail price that British consumers pay for gas.
Energy suppliers are pretty much always under the kosh because of their seemingly endless justification of rising fuel prices at a time of recession when the majority of the British public have much less disposable income. The market is worth around £300bn and it looks like some of the main players might have been playing fast and loose with information to profit themselves in a way that's similar to how the Interbank lending rate, the LIBOR rate, was rigged by at least one British bank.
The main issue being under investigation is that wholesale gas prices may have been manipulated, allegations which Mr Davey says he's "extremely concerned about". Some of the top UK energy companies have denied any involvement in such practices, including British Gas, EDF Energy, E.On Scottish Power and Npower.
Written and presented by Marverine Cole.