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Energy firm facing £23.6m fine over profiteering

AN ENERGY firm is facing a £23.6 million fine after regulators spotted it overcharging in pursuit of extra profits.

Regulator Ofgem said gas and electricity supplies to the National Grid had to match demand at any given time.

Energy producers are sometimes told by the National Grid to cut output at times of lower demand. The producers then receive compensation for any lost profits, the cost of which is passed on to consumers.

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