Financial Times: Regulators probe UK natural gas market

UK regulators are probing an alleged attempt to manipulate the country’s physical wholesale natural gas market, the latest sign of watchdogs stepping up their vigilance of electricity and natural gas trading.

The UK Financial Services Authority and the Office of the Gas and Electricity Markets (Ofgem) are investigating unusual price activity in late September in the National Balancing Point (NBP), a so-called virtual hub that serves as the main pricing point for UK natural gas, according to people familiar with the probe.  MORE