FERC Office of Enforcement
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.
Twin Cities Power will pay $3.5 million for manipulating energy prices in MISO under a settlement approved by FERC last week.
Kevin and Rich Gates have reactivated their website after FERC indicated that it was about to move on to the next step — civil prosecution.
In response to requests from several senators from both parties, the DoE’s Inspector General has begun an investigation into FERC’s Enforcement office.
A senior-level retirement has given Cheryl LaFleur an opportunity to put her stamp on FERC during her brief chairmanship.
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