LONDON Dec 16 Britain's energy market regulator
said it has written to energy companies this week to warn them
of potential fines and prosecution if they are found to have
manipulated wholesale prices by publishing misleading capacity
The letter from Ofgem says concerns have been raised about
misleading information regarding available generating capacity,
which could raise wholesale prices if there is an expectation of
scarce supply in the market.
The UK's biggest energy suppliers are SSE, EDF Energy,
Scottish Power, E.ON, RWE and Centrica.
"Generators must ensure that they are providing the most
accurate information available on how much electricity their
plant can generate and when, based on their experience in
running the power stations that they are making available to the
market," an Ofgem spokesman told Reuters.
"We have not launched a formal investigation. But we are
making it clear that if a generator submits a physical
notification that is misleading, clearly this has the potential
to be a breach of market rules," he added.
European legislation called REMIT was introduced in 2011 to
force energy generators to publish information related to any
changes in capacity or use of their production, storage or
transmission facilities, such as outages or shutdowns.
British energy companies have been under pressure to improve
the information they give about outages or capacity reductions
at their plants and Ofgem already raised concerns in 2014.
Ofgem said it sent the letter to all market participants and
has not ruled out launching a formal investigation if it has
(Reporting by Nina Chestney;Editing by Elaine Hardcastle)