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UK extends regulator's powers amid price fixing probe

The UK government has widened the powers of its power market regulator following the energy price fixing probe

The UK's Department of Energy and Climate Change (DECC) said the Office of Gas and Electricity Markets (Ofgem), the country's electricity and gas market regulator, will receive new powers to tackle energy market abuse. These will include new powers to request access to energy price information, to inspect premises of trading companies and price reporting agencies. DECC said Ofgem would also be able to impose unlimited fines on any organisations found to break the law. DECC said the Electricity and Gas Market Integrity and Transparency Enforcement Regulations will come into force from the 29th June 2013. DECC added that Northern Ireland will put in place its own system for investigating en

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