Danish energy trader slapped with fine for market manipulation

The Danish financial crimes division has issued a fine of DKK 750,000 (EUR 100,471) to energy trader Energi Danmark and has confiscated the company's capital gains for ten counts of wholesale market manipulation, the Danish utility regulator informs. One other company is also implicated. "A clear signal signal to the market," says Danish Utility Regulator Director General Carsten Smidt.

Photo: Energi Danmark, Presse

Energy trader Energi Danmark A/S has agreed to pay a fine for ten counts of manipulating the Nordic wholesale energy market in 2015, the Danish Utility Regulator informs in a statement Friday.

The country's financial crimes division, SØIK, has set the fine at DKK 750,000 (EUR 100,471), which the company has acquiesced to pay. At the same time, capital gains from these ten occurrences have been confiscated from the trader – an amount of DKK 354,000.

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