Electricity market rigging claim

ITV News has been told by a former energy trader the electricity market may have been rigged "for years" and "is worse" than what has allegedly been going on in the gas market.

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Davey threatens alleged riggers with 'full force of the law'

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.

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