- 26 updates
Centrica, which operates British Gas, said in a statement that they have found no "cause for concern" in gas trades they have reviewed:
Following the claims of price-fixing in the gas market, a trader told ITV News that electricity prices may have been manipulated in the same way.
Today the Energy Secretary said companies caught breaking the rules would face the full force of the law - to protect consumers.
Watch Business Editor Laura Kuenssberg's report:
Read Laura Kuenssberg's blog for more.
Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, commenting on allegations of price fixing in the electricity market reported by ITV Business Editor Laura Kuenssberg, said:
RWE npower insists it was not involved in energy trades implicated in fixing accusations.
It said in a statement:
It added that it would be in favour of a regulatory investigation:
David Cameron said suggestions that energy prices may have been fixed are "extremely serious," which is why the matter is being investigated.
He said it is important to make sure customers get a good deal.
SSE, formerly known as Scottish and Southern Energy, repeated this statement today:
Energy Secretary Ed Davey said "firm action" would be taken against anyone found to have been involved in gas market rigging.
Energy Secretary Ed Davey said the "full force of the law" would be used against anyone involved in attempts to rig the UK gas markets.
He asked energy watchdog Ofgem and City regulator the Financial Services Authority (FSA) if they needed extra powers to tackle these alleged abuses of the market and said if the claims are true he would take "firm action".
In a statement to MPs, Mr Davey said: "I see it as my job to protect consumers, not least the most vulnerable who can suffer the most when markets are abused."
The Energy Secretary said his department and the Treasury were made aware of the allegations by the FSA last Friday.
Latest ITV News reports
A former energy trader has told ITV News the electricity market has been rigged and it is "worse" than the gas market.
Another market, another investigation. The Energy and City watchdogs start investigations into allegations of traders fixing the gas price.