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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npower: 'We were not involved in the trades under investigation'

RWE npower insists it was not involved in energy trades implicated in fixing accusations.

It said in a statement:

We were not involved in any of the trades which we understand are under investigation.

We confirm that we have robust compliance procedures in place – it is an explicit commitment within RWE’s Code of Conduct that we will comply with all laws and regulations.

Every trade that we make and every transactional conversation is recorded. We comply with all European transparency regulations.

It added that it would be in favour of a regulatory investigation:

Customers need to trust suppliers and be able to trust the energy markets. RWE is engaged in action to support transparency and liquididity in the markets.

We need transparent markets to encourage the investment the UK needs.We would be happy to support any regulatory investigation.

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