Energy and Utility Management Consultants

Shale Gas impacts played down, price fixing allegations probe underway

May 2013


Contrary to recent claims that shale gas could be the saviour of UK energy security and cause prices to tumble, a report by the Committee on Climate Change suggests that low carbon generation would have “significant economic benefits”. A low-carbon portfolio could save £25-£100bn by 2030 when compared to gas-fired generation, depending on the increase of gas and carbon prices, the CCC state.

A probe into allegations of price fixing and manipulation by oil traders got underway last week with the European Commission investigating Platts (the price reporting agency), BP and Shell and questioning several other key-players in the industry. Although no guilt has been implied, the investigations are being made to ensure that the markets are as risk-free as possible from price fixing, and that the highly volatile commodity is not influenced by rogue traders. More will be reported in due course.

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