EnergyWatch

Neas Energy pays fine for market manipulation

For the second time in a shorter period, the Danish police's financial crimes division (SØIK) issues a fine to an energy company for having in several incidences engaged in market manipulation within a part of the Nordic wholesale electricity market, informs the Danish Utility Regulator.

Danish energy asset management company Neas Energy has paid a fine for having participated in four counts of market manipulation within a part of the Nordic wholesale electricity market in 2015, informs the Danish Utility Regulator in a statement Tuesday.

The Danish financial and international crimes division's (SØIK) state prosecutor has set the fine at DKK 150,000 (EUR 20,498.20). Neas Energy's financial gains reaped from the infraction, which amount to DKK 3,000, have also been confiscated. Thus, Neas has paid a total of DKK 153,000 for the four counts of market manipulation.

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