UK regulator Ofgem says gas price probes continuing

London (Platts)--26Nov2004

British energy regulator Ofgem is continuing its actions to investigate the
massive increase in wholesale UK gas prices over the past year, it said
Friday. Ofgem Friday wrote to the national competition authorities in Belgium,
France, Germany and the Netherlands to take the investigation forward in a
co-ordinated manner. Ofgem has asked whether European gas companies could have
supplied more gas to the UK. Ofgem will be meeting the European Commission to
discuss the issues shortly. Meanwhile, Ofgem has written to Centrica, Shell,
ExxonMobil and BP regarding a second outstanding issue: whether gas flows from
the Sean gas field offshore Bacton were held back in such a way as to drive up
prices. Ofgem said all the companies had agreed to cooperate fully. The
regulator added that it had now closed its inquiries into two other fields:
Indefatigable and Leman. That puts Amerada Hess and Perenco officially in the
clear, as they have no stake in Sean.

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