Accusations of electricity market abuse investigated

Access to electricity futures is causing a round of finger pointing in the sector. (Image: Getty)

Thu, 27 Oct 2022

The Electricity Authority is looking into allegations that some companies have been unfairly shut out of the electricity futures market to the cost of consumers.Purchasing electricity futures contracts is one way electricity retailers and large energy consumers avoid and hedge against fluctuations within the daily wholesale market.Last year, when wholesale electricity prices spiked and remained well above historical averages for a very long time, those suffering were told by some in the market that they had to take some responsibility for their...

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