FERC fined Maxim Power $5 million and employee Kyle Mitton was fined $50,000 for overcharging ISO-NE.

FERC completed a bloodless transition Thursday as newcomer Norman Bay replaced five-year veteran Cheryl LaFleur as chairman.

FERC Chairman Norman Bay named Larry Gasteiger as his chief of staff and Larry Parkinson as the director of the commission’s Office of Enforcement.

A Florida power trader under investigation for market manipulation over up-to-congestion trades says that an “unfair” investigation by FERC has ruined his business.

Maxim Power, accused of market manipulation in New England, has asked FERC to terminate the case.

PJM has asked FERC to untangle the question of how profits from trades that are determined to be illegal get calculated and refunded.

Maxim Power says market manipulation allegations by FERC are an attempt to gain leverage for a settlement of charges from subsequent, unrelated cases.

Powhatan Energy Fund, already embroiled in a battle with FERC’s Office of Enforcement, have now taken on PJM.

FERC issued an order to show cause against Maxim Power, telling the Canadian independent power producer to explain why it shouldn’t have to pay a $5 million fine for allegedly misrepresenting the output of three of its generators in ISO-NE.

Powhatan Energy Fund’s trading scheme cost more than 20 PJM market participants at least $100,000 each, with Exelon, AEP and Dominion each losing more than $1 million, according to an RTO analysis released by FERC.