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Barclays

Energy

Banks and Utilities manipulating energy prices

Britain’s top energy companies have been accused of fiddling the price of gas and electricity. Hundreds of millions of dollars are at stake. The UK Government is looking into it.

But has the same thing been happening in America?

British bank Barclays Barclays has been fined $470m by US regulators for manipulating the American electricity market.
The US Federal Energy Regulatory Commission (FERC) has provisionally fined the bank $435m and ordered it to repay $34.9m in “unjust profit.”

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