UK energy minister ignores calls for European probe of gas prices

London (Platts)--20Sep2004

New UK energy minister Mike O'Brien offered no hope last week to consumers
calling out for a full investigation into high gas prices. Speaking in
Parliament late last week, O'Brien refused to commit to action, saying only
that he was monitoring the situation. "We are continuing to watch the position
very carefully," he said. "We want to ensure that, throughout the process, the
consumer is protected in so far as that is possible." 

Last week consumer group Energywatch held a seminar asking why wholesale gas prices had risen 60% since
last year. Consumers have suggested the market lacks transparency. More access
to information is needed, in the UK and the linked continental gas markets.
Energywatch has suggested a European competition investigation may be needed,
because an investigation started last year by UK energy regulator Ofgem is
dragging on and Ofgem has no power over the offshore gas market. But O'Brien
suggested that a further formal investigation might not be needed.

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