EnergyWatch

Gas giant fined for market manipulation

Vitol is being fined for having purchased gas at artificially low prices on the French wholesale market. Danish Utility Regulator Director General Carsten Smidt says the case is big and important, but the company denies blame.

Photo: Genrefoto/Colourbox

Dutch energy group Vitol is facing a serious case of market manipulation.

The company has been fined EUR 5 million for its complicity in the so-called layering of gas trades in 2013 and 2014. The case is the first of its kind on the European wholesale market for gas.

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