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New laws would give UK energy regulators new powers to prosecute people suspected of abusing the energy market.

New laws are currently being proposed by the government to ensure that energy suppliers cannot unfairly inflate prices or use inside information to rig costs. Under the proposed new laws it would also be an offence to mislead customers with regard to prices.

These laws are intended to be robust and as such are backed up by the threat of prison sentences for those convicted of the above practices.

The government are attempting to put a stop to unscrupulous firms manipulating the cost of energy. Anyone found guilty of false representation could face up to two years in prison and would find themselves with a criminal record.

The government is committed to encouraging more competition in the energy market. They want to limit the dominance of the Big Six energy companies. 

At the moment the proposed laws are being reviewed by Parliament but it is hoped that the new offences could come into force by Spring 2015. Ofgem would be the designated government body responsible for policing these new laws.

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