UK Premier Condemns ‘Unacceptable’ Power-Trading Moves (1)

The UK government condemned tactics by power traders that the energy regulator says pushes up prices for consumers.

An investigation by Bloomberg News on Thursday exposed tactics by power traders who say they’re stopping plants from generating before keeping them running at a higher price. The maneuver, which has racked up £525 million ($647 million) in recent years and is paid for by consumers, is often used on days when there’s limited supply available to the grid operator.

“The regulator Ofgem is aware of this concerning behavior from a handful of participants involved and is urgently looking into it further,” ...