Big energy companies held back UK gas supplies to increase price.

Guardian: “Some of Britain’s biggest energy suppliers were holding backĀ  gas in storage tanks at a time when the market ran into an acute shortage two months ago, triggering a doubling of wholesale prices.” “The revelations came after claims the UK was within six hours of running out of gas completely on 22 March and will feed rising public and political anger over soaring power bills and previous allegations of market manipulation.
The National Grid, which keeps data on the gas industry, revealed that the Liquefied Natural Gas terminal at the Isle of Grain near London, used by BP, Centrica and other big suppliers, was 40% full on 22 March. The South Hook LNG plant in south Wales, owned by ExxonMobil and Total, was 52% full on the same day, at a time when various pipeline and other supply problems caused gas prices to hit 150 pence a therm. …..Proffitt is frustrated that the two regulators are still working on a preliminary review into whistleblowing allegations first raised by the Guardian in November last year. He compares the UK performance negatively with the US, where both BP and Barclays bank are among the companies to have been hit by hundred million dollar fines in recent years after claims of market abuse.”