Ofgem's probe into wholesale gas prices - Conclusions and next steps
Article from: OGEL 4 (2004), in National and International Issues in Natural Gas Development
In October 2003 prompt wholesale gas prices in Great Britain (GB) increased significantly. Prices increased by over 80 per cent compared with the price that gas for delivery in October traded at in September and remained high, by historical standards, throughout October and November. Forward gas prices for winter 2003/04 also increased by 12 per cent between August 2003 and October 2004. A number of customers and companies in the gas market complained to the Office of Gas and Electricity Markets (Ofgem) because there was no obvious reason for the increases in wholesale prices which were ...