Ofgem looks to crack down on firms ‘manipulating’ electricity market

Energy regulator plans to tackle manoeuvre that has brought in millions of extra pounds for generators

The energy regulator Ofgem is preparing to crack down on UK power firms to prevent them manipulating" the market with a manoeuvre that has bolstered their profits by millions of pounds.

The practice, which does not break existing market rules, involves generators warning the electricity system operator that they are turning their power plants off at times of peak demand and subsequently offering to keep them running in exchange for a balancing" payment.